Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

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

Division 126 - Same-asset roll-overs  

Subdivision 126-B - Companies in the same wholly-owned group  

Operative provisions

SECTION 126-55   When there is a roll-over   Capital gain or no loss

126-55(1)  
There is a roll-over if:


(a) either:


(i) the trigger event would have resulted in the originating company making a *capital gain, or making no *capital loss and not being entitled to a deduction; or

(ii) the originating company *acquired the roll-over asset before 20 September 1985; and


(b) the originating company and recipient company both choose to obtain it.

Note:

Section 103-25 sets out when the choice must be made.

126-55(2)  


(Repealed by No 169 of 1999)

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