New Business Tax System (Integrity and Other Measures) Act 1999 (Incorporating amendments up to Act No. 78 of 2001) (169 of 1999)
Schedule 9 Concessions for capital gains by individuals and some other entities
Part 1 New rules
Income Tax Assessment Act 1997
9 Section 109-55 (after table item 8A)
Insert:
|
8B |
There is a same-asset roll-over for a CGT event that happens to a CGT asset |
when the entity that owned the asset before the roll-over acquired it |
section 115-30 |
|
8C |
You obtain a replacement-asset roll-over for replacing a CGT asset |
when you acquired the original asset involved in the roll-over |
section 115-30 |
|
8D |
A CGT asset devolves to you as legal personal representative of a deceased individual |
when the deceased acquired the asset (unless it was a pre-CGT asset just before his or her death) |
section 115-30 |
|
8E |
A CGT asset passes to you as beneficiary in the estate of a deceased individual |
when the deceased acquired the asset (unless it was a pre-CGT asset just before his or her death) |
section 115-30 |
|
8F |
A surviving joint tenant acquires a deceased joint tenant's interest in a CGT asset |
when the deceased acquired the interest |
section 115-30 |