Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-3 - CAPITAL GAINS AND LOSSES: SPECIAL TOPICS  

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History

Pt 3-3 inserted by No 46 of 1998.

Division 126 - Roll-overs  

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Div 126 (heading) substituted by No 23 of 2005.

Div 126 inserted by No 46 of 1998.

Subdivision 126-B - Transfer of life insurance business  

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Subdiv 126-B inserted by No 23 of 2005.

SECTION 126-165  

126-165   References to Subdivision 126-B of the Income Tax Assessment Act 1997  

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A reference in an Act to a roll-over under Subdivision 126-B of the Income Tax Assessment Act 1997 includes a reference to a roll-over under this Subdivision.

Example:

Examples of the operation of this provision include:

(a) CGT event J1 may happen if the recipient company stops being a 100% subsidiary of a member of a company group after a roll-over under this Subdivision; and

(b) (Repealed by No 56 of 2010)

(c) an allocable cost amount may be affected under section 705-93 because of a roll-over under this Subdivision.

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S 126-165 amended by No 56 of 2010, s 3 and Sch 5 item 73, by repealing para (b) of the example, applicable in relation to entities that become members of a consolidated group or MEC group on or after 1 July 2009. Para (b) of the example formerly read:

(b) a tax cost setting amount may be affected under section 705-50 because of a roll-over under this Subdivision; and

S 126-165 amended by No 56 of 2010, s 3 and Sch 5 item 54, by substituting " section 705-93 " for " section 705-150 " in para (c) of the example, applicable on and after 1 July 2002.

S 126-165 inserted by No 23 of 2005.

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