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  

Subdivision 124-I - Change of incorporation  

Object of this Subdivision

SECTION 124-515   124-515   Object of this Subdivision  


The object of this Subdivision is to ensure that CGT considerations for *members of a body incorporated under a law do not impede a change of incorporation involving converting the body to, or replacing it with, a company incorporated under:


(a) the Corporations Act 2001 or a similar *foreign law; or


(b) the Corporations (Aboriginal and Torres Strait Islander) Act 2006 .

Note:

Subdivision 620-A provides a roll-over for the assets of the body.


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