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  • Forced disposals



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    The capital gains tax provisions allow you to defer working out a gain or loss where the disposal was:

    • as a result of a breakdown of marriage
    • caused by the loss or destruction of the asset
    • from certain resumptions of property
    • from the disposal of certain mining leases.

    These rollover provisions will apply in working out the attributable income because of the assumption that the CFC is a resident.

    Most of these provisions require that the person disposing of the asset must make an election. You can make the election on behalf of a wholly owned CFC. For more details, read Procedures for election that the rollover provisions apply.

    Last modified: 05 Dec 2006QC 17522