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Legal database

Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-3 - CAPITAL GAINS AND LOSSES: SPECIAL TOPICS  

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Division 122 - Roll-over for the disposal of assets to, or the creation of assets in, a wholly-owned company  

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Subdivision 122-B - Disposal or creation of assets by partners to a wholly-owned company  

SECTION 122-120   What this Subdivision is about  

This Subdivision sets out when the partners in a partnership can obtain a roll-over on transferring a CGT asset, or all the assets of a business, to a company. It also deals with the creation of a CGT asset in a company. There are consequences for the company also.

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