Income Tax Assessment Act 1997
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Hide history noteAsset compulsorily acquired, lost or destroyed
152-115(1)
If a *CGT asset is an asset (the new asset ) you acquired to satisfy the requirement in subsection 124-70(2) or 124-75(2) for a roll-over under Subdivision 124-B , then paragraphs 152-105(b) and 152-110(1)(b) and (c) (the 15-year and significant individual rules) apply as if you had acquired the new asset when you acquired the original asset.
Note:
Subdivision 124-B allows you to choose a roll-over if your CGT asset is compulsorily acquired, lost or destroyed.
Assets replaced during FSR transition (same owner roll-overs)
152-115(1A)
If a *CGT asset is an asset (the new asset ) you acquired in a situation covered by former section 124-880 , 124-885 or 124-890 , then paragraphs 152-105(b) and 152-110(1)(b) and (c) (the 15-year and significant individual rules) apply as if you had acquired the new asset when you acquired the original asset.
Note:
Former Subdivision 124-O provided a roll-over for certain CGT assets that came to an end as a result of an FSR transition.
Asset replaced during FSR transition (new owner roll-overs)
152-115(1B)
If a *CGT asset is an asset (the new asset ) acquired in a situation covered by former section 124-900 , 124-905 or 124-910 , then paragraphs 152-105(b) and 152-110(1)(b) and (c) (the 15-year and significant individual rules) apply as if the new owner had acquired the new asset when the original owner acquired the original asset.
Note:
Former Subdivision 124-O provided a roll-over for certain CGT assets that came to an end as a result of an FSR transition.
Marriage or relationship breakdowns
152-115(2)
If you made the choice mentioned in subsection 152-45(2) for a *CGT asset, then paragraphs 152-105(b) and (c) and 152-110(1)(b) and (c) (the 15-year and significant individual rules) apply as if you had acquired the asset when the transferor acquired it.
Note:
There is a roll-over under Subdivision 126-A if CGT assets are transferred because of a marriage or relationship breakdown.
Restructures of small businesses
152-115(3)
If section 328-450 or 328-455 applies in relation to the transfer of an asset to you, then paragraphs 152-105(b) and (c) and 152-110(1)(b) and (c) (the 15-year and significant individual rules) apply as if:
(a) you had acquired the asset when the entity transferring the asset acquired it; or
(b) in a case where, for the purposes of applying those paragraphs, the time when that entity acquired the asset was provided for by this subsection - you had acquired the asset at that time.
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