Forced disposals



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

End of attention

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