Division 126 - Same-asset roll-overs  

Subdivision 126-G - Transfer of assets between certain trusts  

Operative provisions

SECTION 126-250   Consequences for beneficiaries - other approach for working out cost base etc.  

This section applies if the beneficiary owns one or more *membership interests in the transferring trust at all times during the period:

(a) starting just before this time (the starting time ):

(i) the transfer time; or

(ii) the transfer time for an asset referred to in paragraph 126-225(2)(c) (assuming subsection 126-225(2) applies); and

(b) ending just after this time (the ending time ):

(i) the transfer time (assuming this is not also the starting time); or

(ii) a later time in the transfer year that is the transfer time for another asset for which a roll-over is obtained under this Subdivision for the trusts.

Subsection 126-225(2) applies if the roll-over asset is transferred to the receiving trust after an earlier roll-over under this Subdivision, for another asset, was obtained for the trusts.

The beneficiary may choose for each of the following:

(a) the *cost base and *reduced cost base of each of those *membership interests and of the beneficiary ' s corresponding membership interests in the receiving trust;

(b) the time each of those corresponding interests in the receiving trust is treated as having been *acquired;

to be adjusted under subsection (3) for the period.

For each of the interests referred to in subsection (2), subsections 126-245(2) , (3) , (4) , (5) and (6) apply as if:

(a) references in those subsections to just before the transfer time were references to just before the starting time; and

(b) references in those subsections to just after the transfer time were references to just after the ending time.


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.