INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-80 - ROLL-OVERS APPLYING TO ASSETS GENERALLY  

Division 615 - Roll-overs for business restructures  

Subdivision 615-A - Modifications for roll-overs between the 2011 and 2012 Budget times  

SECTION 615-20   615-20   Modifications - revenue assets  


Substitute the following for subsection 615-55(2) of that Act:

(2) For the purpose of calculating any profit or loss on a future disposal, cessation of ownership, or other realisation of a *share in the interposed company that you acquired in return for those of your shares or units in the original entity that were *revenue assets at the time mentioned in paragraph 615-45(c) , you are taken to have paid:


* Total worked out under subsection (1)
for those shares or units in the original entity
Number of those shares in the interposed company




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