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Last updated 3 March 2016

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.