Income Tax Assessment Act 1997



Division 328 - Small business entities  

Subdivision 328-G - Restructures of small businesses  

Requirements for a roll-over under this Subdivision

SECTION 328-435  

328-435   Genuine restructures - safe harbour rule  

For the purposes of paragraph 328-430(1)(a) (but without limiting that paragraph), a transaction is, or is a part of, a genuine restructure of an ongoing *business if, in the 3 year period after the transaction takes effect:

(a) there is no change in ultimate economic ownership of any of the significant assets of the business (other than *trading stock) that were transferred under the transaction; and

(b) those significant assets continue to be *active assets; and

(c) there is no significant or material use of those significant assets for private purposes.


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