Income Tax Assessment Act 1997



Division 124 - Replacement-asset roll-overs  

Subdivision 124-B - Asset compulsorily acquired, lost or destroyed  

When a roll-over is available

SECTION 124-80   Other requirements if you receive an asset  

If you receive another *CGT asset for the event happening, you can choose to obtain a roll-over only if these other requirements are satisfied.


The roll-over consequences are set out in section 124-90 .


The other asset cannot become an item of your *trading stock just after you *acquire it, nor can it be a *depreciating asset whose decline in value is worked out under Division 40 or deductions for which are calculated under Division 328 nor can it be a *registered emissions unit.


The *market value of the other asset (when you *acquire it) must be more than the *cost base of the original asset just before the event happens.


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