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-B - Asset compulsorily acquired, lost or destroyed  

When a roll-over is available

SECTION 124-80   Other requirements if you receive an asset  

124-80(1)    
If you receive another *CGT asset for the event happening, you can choose to obtain a roll-over only if these other requirements are satisfied.

Note:

The roll-over consequences are set out in section 124-90 .

124-80(2)    

The other asset cannot become an item of your *trading stock just after you *acquire it, nor can it be a *depreciating asset whose decline in value is worked out under Division 40 or deductions for which are calculated under Division 328 nor can it be a *registered emissions unit.

124-80(3)    

The *market value of the other asset (when you *acquire it) must be more than the *cost base of the original asset just before the event happens.