Income Tax Assessment Act 1997



Division 122 - Roll-over for the disposal of assets to, or the creation of assets in, a wholly-owned company  

Subdivision 122-B - Disposal or creation of assets by partners to a wholly-owned company  

Same-asset roll-over consequences for the company (creation case)

SECTION 122-205   Consequences for the company (creation case)  

There are these consequences for the company in a creation case if the partners choose to obtain a roll-over.

The first element of the created asset's *cost base (in the hands of the company) is the applicable amount from this table.

Creation case
Event No. Applicable amount
D1 the total *incidental costs incurred that relate to the trigger event
D2 the total expenditure incurred to grant the option
D3 the total expenditure incurred to grant the right
F1 the total expenditure incurred on the grant, renewal or extension of the lease

The expenditure can include a transfer of property: see section 103-5 .

The first element of the created asset's *reduced cost base (in the hands of the company) is worked out similarly.


Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.