• Reversal of rollover

    Attention

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    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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    CGT event

    Time of event

    Capital gain

    Capital loss

    J1

    Company stops being a member of a wholly owned group after a rollover

    when the company stops being a member of a wholly owned group after a rollover

    market value of the asset at the time of the event less its cost base

    reduced cost base of the asset less that market value

    J2

    Change in status of a CGT asset that was a replacement asset in a rollover under Subdivision 152-E

    when the change in status happens

    the amount of the capital gain that you disregarded under Subdivision 152-E

    no capital loss

    J3

    A change happens in circumstances where a share in a company or an interest in a trust was a replacement asset in a rollover under Subdivision 152-E

    when the change in circumstances happens

    the amount of the capital gain that you disregarded under Subdivision 152-E

    no capital loss

    J4

    Trust failing to cease to exist after rollover under Subdivision 124-N

    when the failure to cease to exist happens

    for the company - market value of the asset at the time the company acquired it less its cost base at that time

    for shareholder - market value of the share at the time the shareholder acquired it less its cost base at that time

    for the company - reduced cost base of the asset at the time the company acquired it less its market value at that time

    for shareholder - reduced cost base of the share at the time the shareholder acquired it less its market value at that time

    Last modified: 04 Mar 2016QC 27527