Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 775-195 You may choose roll-over relief for a facility agreement 775-195(1)
You may choose roll-over relief for a *facility agreement if:
(a) you have entered into the agreement; and
(b) you have a right to issue *eligible securities under the agreement; and
(c) the economic effect of the agreement is to enable you to obtain finance in a particular *foreign currency:
(i) up to the foreign currency amount specified in the agreement; and
(ii) during the term of the agreement.
775-195(2)
A choice must be made:
(a) within 90 days after the first time you issue an *eligible security under the *facility agreement; or
(b) within 90 days after the applicable commencement date; or
(c) within 30 days after the commencement of this subsection.
Note:
For applicable commencement date , see section 775-155 .
775-195(3)
If you make a choice within 90 days after the first time you issue an *eligible security under the *facility agreement, the choice is taken to have been in effect throughout the period that began immediately before the first time you issued an eligible security under the facility agreement.
775-195(4)
If:
(a) you make a choice:
(i) within 90 days after the applicable commencement date; or
(ii) within 30 days after the commencement of this subsection; and
(b) subsection (3) does not apply;
the choice is taken to have been in effect throughout the period that began at whichever is the later of the following times:
(c) the start of the applicable commencement date;
(d) the first time you issued an *eligible security under the *facility agreement.
Note:
For applicable commencement date , see section 775-155 .
775-195(5)
A choice must be in writing.
775-195(6)
A choice continues to apply until the *facility agreement ends.
Note:
If forex realisation event 7 happens (material variation of facility agreement), subsection 775-220(5) terminates your choice.
775-195(7)
A choice may not be revoked.
775-195(8)
(Repealed by No 15 of 2009 )
775-195(9)
(Repealed by No 15 of 2009 )
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