Class Ruling

CR 2006/60W

Income tax: scrip for scrip roll-over: acquisition of Patrick Corporation Limited by Toll Holdings Limited

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FOI status:

This publication provides you with the following level of protection:

This publication (excluding appendixes) is a public ruling for the purposes of the Taxation Administration Act 1953.

A public ruling is an expression of the Commissioner's opinion about the way in which a relevant provision applies, or would apply, to entities generally or to a class of entities in relation to a particular scheme or a class of schemes.

If you rely on this ruling, we must apply the law to you in the way set out in the ruling (or in a way that is more favourable for you if we are satisfied that the ruling is incorrect and disadvantages you, and we are not prevented from doing so by a time limit imposed by the law). You will be protected from having to pay any underpaid tax, penalty or interest in respect of the matters covered by this ruling if it turns out that it does not correctly state how the relevant provision applies to you.


1. This Ruling is withdrawn immediately after 30 June 2007. The Ruling continues to apply, in respect of the relevant provision(s) relied upon, to all persons within the specified class who enter into the arrangement during the term of the Ruling.

Commissioner of Taxation
28 June 2006

Not previously issued as a draft


ATO references:
NO 2006/10103

ISSN: 1445-2014

Subject References:
capital proceeds
CGT event
cost base
ordinary share
original interest
replacement interest
scrip for scrip roll-over

Legislative References:
ITAA 1936 6(1)
ITAA 1997 104-10
ITAA 1997 104-10(1)
ITAA 1997 104-10(2)
ITAA 1997 104-10(3)
ITAA 1997 104-10(3)(b)
ITAA 1997 104-10(4)
ITAA 1997 104-10(6)
ITAA 1997 109-5
ITAA 1997 109-10
ITAA 1997 Div 110
ITAA 1997 Subdiv 115-A
ITAA 1997 115-25
ITAA 1997 116-20
ITAA 1997 116-20(1)
ITAA 1997 Subdiv 124-M
ITAA 1997 124-780
ITAA 1997 124-780(1)(a)(i)
ITAA 1997 124-780(1)(b)
ITAA 1997 124-780(1)(c)
ITAA 1997 124-780(2)(a)
ITAA 1997 124-780(2)(b)
ITAA 1997 124-780(2)(c)
ITAA 1997 124-780(3)(a)
ITAA 1997 124-780(3)(b)
ITAA 1997 124-780(3)(c)
ITAA 1997 124-780(3)(d)
ITAA 1997 124-780(4)
ITAA 1997 124-780(4)(a)
ITAA 1997 124-780(4)(b)
ITAA 1997 124-780(5)
ITAA 1997 124-782
ITAA 1997 124-785(1)
ITAA 1997 124-785(2)
ITAA 1997 124-785(3)
ITAA 1997 124-785(4)
ITAA 1997 124-790
ITAA 1997 124-790(1)
ITAA 1997 124-790(2)
ITAA 1997 124-795(2)
ITAA 1997 124-795(2)(a)
ITAA 1997 124-795(2)(b)
ITAA 1997 124-810
ITAA 1997 995-1
TAA 1953
TAA 1953 Sch 1 357-75(1)
Copyright Act 1968
Corporations Act 2001

Other References:
Explanatory Memorandum to the New Business Tax System (Capital Gains Tax) Bill 1999

CR 2006/60W history
  Date: Version: Change:
  15 September 2005 Original ruling  
You are here 1 July 2007 Withdrawn