Income Tax Assessment Act 1997
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Hide history noteSECTION 124-985 What the roll-over is for post-CGT interests 124-985(1)
A *capital gain the entity makes from an original interest *acquired on or after 20 September 1985 is disregarded.
124-985(2)
The entity works out the first element of the *cost base of each replacement interest the entity received as a result of the exchange by reasonably attributing to it the cost base (or the part of it) of the entity ' s original interest for which it was exchanged and for which the entity obtained the roll-over.
124-985(3)
In applying subsection (2), the entity reduces (but not below zero) the *cost base of the original interest (just before stopping owning it) by so much of that cost base as is attributable to an ineligible part (see section 124-990 ).
124-985(4)
The first element of the *reduced cost base of a replacement interest is worked out similarly.
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