Income Tax Assessment Act 1997
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Hide history noteSECTION 124-80 Other requirements if you receive an asset 124-80(1)
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.
Note:
The roll-over consequences are set out in section 124-90 .
124-80(2)
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.
124-80(3)
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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