• Choices

    Attention

    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.
    Last modified: 04 Mar 2016QC 27527