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-N - Disposal of assets by a trust to a company  

SECTION 124-850   What this Subdivision is about  


Entities can choose to obtain a roll-over if:

  • (a) a trust disposes of all of its assets to a company; and
  • (b) units and interests in the trust are replaced by shares in the company.
  • The roll-over may also be available for 2 or more trusts disposing of all their assets to a single company.

    Note:

    The effect of the roll-over may be reversed if the trust does not cease to exist within 6 months: see section 104-195 .


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