Income Tax Assessment Act 1997



Division 124 - Replacement-asset roll-overs  

Subdivision 124-I - Change of incorporation  

Special consequences of some roll-overs

SECTION 124-530   Shares in company replacing pre-CGT and post-CGT mix of interest and rights in body  

This section applies if:

(a) you choose to obtain a roll-over under section 124-520 or 124-525 relating to *shares you have in the company on account of the following (your original assets ):

(i) your interest in the body mentioned in that section;

(ii) your other rights relating to the body mentioned in that section; and

(b) you *acquired some of your original assets before 20 September 1985 and the rest of them on or after that day.

You are taken to have *acquired so many of the *shares before 20 September 1985 as is reasonable, having regard to:

(a) the number and *market value of your original assets; and

(b) the number and market value of the shares.

The first element of the *cost base of each of the *shares not taken by subsection (2) to have been *acquired before 20 September 1985 (your post-CGT shares ) is such amount as is reasonable having regard to:

(a) the total of the cost bases of your original assets that you acquired on or after 20 September 1985; and

(b) the number and *market value of your post-CGT shares.

The reduced cost base of each of your post-CGT shares is worked out similarly.

This section has effect despite subsections 124-15(5) and (6) .


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.