Income Tax Assessment Act 1997



Division 104 - CGT events  

Subdivision 104-J - CGT events relating to roll-overs  

SECTION 104-190   Replacement asset period  


If you choose a small business roll-over under Subdivision 152-E for a *CGT event that happens in relation to a *CGT asset in an income year, the replacement asset period is the period:

(a) starting one year before the last CGT event in the income year for which you obtain the roll-over; and

(b) ending at the later of:

(i) 2 years after that last CGT event; and

(ii) if the first-mentioned CGT event happened because you *disposed of the CGT asset - 6 months after the latest time a possible *financial benefit becomes or could become due under a *look-through earnout right relating to the CGT asset and the disposal.


The replacement asset period is modified if your *capital proceeds for the *CGT event are increased under subsection 116-45(2) or 116-60(3) after the end of that period. Instead, you have until 12 months after you receive those additional proceeds to *acquire a replacement asset, or incur *fourth element expenditure in relation to a *CGT asset, or do both.

Section 116-45 applies if you do not receive your capital proceeds despite having taken all reasonable steps to get them, and section 116-60 applies if your capital proceeds are misappropriated by your employee or agent.


The Commissioner may extend the replacement asset period , or that period as modified by subsection (1).


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