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-P - Exchange of a membership interest in an MDO for a membership interest in another MDO  

Operative provisions

SECTION 124-990   Partial roll-over  

124-990(1)    
The entity can obtain only a partial roll-over if its *capital proceeds for its original interest include something (the ineligible proceeds ) other than its replacement interest. There is no roll-over for that part (the ineligible part ) of its original interest for which it received ineligible proceeds.

124-990(2)    
The *cost base of the ineligible part is that part of the cost base of the original interest as is reasonably attributable to it.