Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 775-205 775-205 What is a roll-over ?
A roll-over happens under a *facility agreement if:
(a) you discharge your obligation under an *eligible security issued by you under the agreement (the rolled-over security ); and
(b) at the same time, you issue a new eligible security (the new security ) under the agreement; and
(c) the issue of the new security is related to the discharge of your obligation under the rolled-over security in one of the following ways:
(i) your obligation under the rolled-over security is wholly or partly set off against your right to receive the *foreign currency issue price of the new security;
(ii) your obligation under the rolled-over security is wholly or partly satisfied by the issue of the new security; and
(d) you have made a choice for roll-over relief for the agreement, and that choice is in effect; and
(e) the new security is issued on or after the applicable commencement date; and
(f) if you have not made an election under section 775-150 - the rolled-over security is issued on or after the applicable commencement date.
Note:
For applicable commencement date , see section 775-155 .
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