Choices

Warning:

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

End of attention

In some cases you are given a choice as to how the CGT rules apply to you. As a general rule, if you wish to make a choice you must make it by the day you lodge your tax return – the way you prepare your tax return is sufficient evidence of your choice. However, there are some exceptions:

• companies must make some decisions about replacement asset rollovers earlier
• choices relating to the small business retirement exemption must be made in writing, and
• a longer period is allowed to choose the small business rollover.