Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES

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

Division 124 - Replacement-asset roll-overs

View history note

Subdivision 124-N - Disposal of assets by a trust to a company

SECTION 124-850 What this Subdivision is about

Entities can choose to obtain a roll-over if:

(a) a trust disposes of all of its assets to a company; and

(b) units and interests in the trust are replaced by shares in the company.

The roll-over may also be available for 2 or more trusts disposing of all their assets to a single company.

The effect of the roll-over may be reversed if the trust does not cease to exist within 6 months: see section 104-195 .