Tax Laws Amendment (2006 Measures No. 4) Act 2006 (168 of 2006)

Schedule 1   Marriage breakdown roll-over

Income Tax Assessment Act 1997

9   At the end of Subdivision 126-A


126-25 Conditions for the purposes of subsections 126-5(3A) and 126-15(5)

(1) The conditions referred to in subsections 126-5(3A) and 126-15(5) are that:

(a) at the time of the trigger event:

(i) the *spouses, or former spouses, involved are separated; and

(ii) there is no reasonable likelihood of cohabitation being resumed; and

(b) the trigger event happened because of reasons directly connected with the breakdown of the marriage or de facto marriage.

(2) For the purposes of this section, the question whether *spouses or former spouses have separated is to be determined in the same way as it is for the purposes of section 48 of the Family Law Act 1975 (as affected by sections 49 and 50 of that Act).