Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-3
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CAPITAL GAINS AND LOSSES: SPECIAL TOPICS
The object of this Subdivision is to ensure that CGT considerations for *members of a body incorporated under a law do not impede a change of incorporation involving converting the body to, or replacing it with, a company incorporated under:
(a) the Corporations Act 2001 or a similar *foreign law; or
(b) the Corporations (Aboriginal and Torres Strait Islander) Act 2006 .
Division 124
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Replacement-asset roll-overs
Subdivision 124-I
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Change of incorporation
Object of this Subdivision
SECTION 124-515
124-515
Object of this Subdivision
The object of this Subdivision is to ensure that CGT considerations for *members of a body incorporated under a law do not impede a change of incorporation involving converting the body to, or replacing it with, a company incorporated under:
(a) the Corporations Act 2001 or a similar *foreign law; or
(b) the Corporations (Aboriginal and Torres Strait Islander) Act 2006 .
Note:
Subdivision 620-A provides a roll-over for the assets of the body.
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