Part 3-3 inserted by No 46 of 1998.

Div 124 inserted by No 46 of 1998.

Subdiv 124-O repealed by No 109 of 2014, s 3 and Sch 10 item 38, effective 17 October 2014.

Subdiv 124-O inserted by No 101 of 2004.

S 124-895 repealed by No 109 of 2014, s 3 and Sch 10 item 38, effective 17 October 2014. S 124-895 formerly read:

SECTION 124-895 Consequences of a same owner roll-over  
124-895(1)
In each situation covered by section 124-880 , 124-885 or 124-890 , where:

(a) your ownership of one or more * CGT assets (the original asset or assets ) comes to an end; and

(b) you acquire one or more CGT assets (the replacement asset or assets );

the consequences of that section applying are the consequences specified in Subdivision 124-A , with the modifications set out below.

124-895(2)
The first element of the * cost base and * reduced cost base of each replacement asset includes any amount you paid to get the replacement asset (which can include giving property: see section 103-5 ). This subsection does not apply if subsection (3) applies.

Note:

If subsection (3) applies, any amount you paid to get the replacement asset is included in the cost base and reduced cost base by subsection (5).

124-895(3)
In a situation where subsection 124-15(5) would otherwise apply (where you * acquired some original assets before 20 September 1985 and some on or after that date), use subsections (4) to (7) of this section instead of subsections 124-15(5) and (6).

124-895(4)
Each replacement asset, or part of a replacement asset, to the extent that it relates to one or more original assets that were * acquired before 20 September 1985, is taken to be:

(a) a separate asset; and

(b) acquired before 20 September 1985.

124-895(5)
The first element of the * cost base of each replacement asset that you are not taken to have * acquired before 20 September 1985 is the sum of:

(a) the amount worked out under the formula in subsection (6); and

(b) either:

(i) any amount you paid to get the replacement asset (which can include giving property: see section 103-5 ); or

(ii) for a replacement asset, part of which is treated as a separate asset under subsection (4) - such part of any amount you paid to get the asset (which can include giving property: see section 103-5 ) as is reasonably attributable to the part of the asset that you are not taken to have acquired before 20 September 1985.

124-895(6)
The formula is:

The total of the * cost bases of the original assets that                         you * acquired on or after 20 September 1985                   The number of replacement assets that you are not taken to have * acquired before 20 September 1985

Note:

If an original asset is an old licence that ceases to have effect only partly, subsection (8) modifies this formula.

124-895(7)
The first element of each replacement asset's * reduced cost base is worked out similarly.

124-895(8)
If, in a situation covered by section 124-880 , an old licence mentioned in that section ceases to have effect only partly, then:

(a) a reference in Subdivision 124-A to the original asset's * cost base; and

(b) the reference in subsection (6) of this section to the total of the * cost bases of the original assets;

is taken to be a reference to such part of the cost base of the old licence as is reasonably attributable to the part of the old licence that ceases to have effect.

S 124-895 inserted by No 101 of 2004.