Tax Laws Amendment (2006 Measures No. 7) Act 2007 (55 of 2007)
Schedule 1 Small business relief for CGT events
Income Tax Assessment Act 1997
5 Subsection 102-25(2A)
Repeal the subsection (including the example), substitute:
(2A) If the circumstances that gave rise to*CGT event J2 constitute another CGT event, CGT event J2 applies in addition to the other event.
Example: CGT event J2 happens because a replacement asset for a small business roll-over under Subdivision 152-E becomes your trading stock (in circumstances where CGT event K4 happens). Both CGT events apply.
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