INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
In this Division, unless the contrary intention appears:
has the meaning given by section 160ZZPM .
has the meaning given by section 160ZZPN .
, in respect of the acquisition of an asset, means the amount that is that consideration within the meaning of section 160ZH .
has the meaning given by section 160ZZPNA .
(a) an individual;
(b) a partnership;
(c) a company;
(d) a trust.
gross goodwill roll-over amount
has the meaning given by subsection 160ZZPQ(4) .
gross non-goodwill roll-over amount
has the meaning given by subsection 160ZZPQ(3) or (3A) .
to a taxpayer of the acquisition of an asset means the amount constituting those costs within the meaning of section 160ZH .
listed public company
means a company in which any of the shares (except shares that carry the right to a fixed rate of dividend) are listed for quotation in the official list of an approved stock exchange.
(a) a mutual insurance company within the meaning of section 121AB; or
(b) a mutual affiliate company within the meaning of section 121AC.
net goodwill roll-over amount
has the meaning given by subsection 160ZZPS(5) or (3A) .
net non-goodwill roll-over amount
has the meaning given by subsection 160ZZPR(5) .
(a) a listed public company; or
(b) a company (other than a listed public company) all the shares in which are beneficially owned by any one or more of the following:
(i) listed public companies;
(ii) mutual insurance organisations;
(iii) publicly traded unit trusts.
(a) a public company; or
(b) a mutual insurance organisation; or
(c) a publicly traded unit trust.
(a) are listed for quotation in the official list of an approved stock exchange; or
(b) are ordinarily available for subscription or purchase by the public.
(a) this Part would not apply because of a provision of section 160L; or
(b) a capital gain would not be taken to have accrued because of subsection 160Z(6) .
resident unit trust
has the same meaning as in section 102Q .
(a) the sum (worked out at the time of acquisition) of the consideration in respect of, and the incidental costs to the taxpayer of, the acquisition of the replacement goodwill asset nominated by the taxpayer in respect of a net goodwill roll-over amount that applies to the taxpayer in respect of that year of income; or
(b) if the taxpayer nominated 2 or more replacement goodwill assets in respect of such a net goodwill roll-over amount - the sum (worked out at the time of the relevant acquisition) of the considerations in respect of, and the incidental costs to the taxpayer of, the acquisition of those replacement goodwill assets.
total net roll-over amount
, in relation to a taxpayer in relation to a disposal year of income, means the net roll-over amount, or the sum of the net roll-over amounts, applying to the taxpayer in respect of that year of income.
This Division applies to a trust as if the trust were a taxpayer. However, a trust is not a legal person and any thing to be done by the trust has to be done by the trustee of the trust. Accordingly, any provision of this Division that refers to a taxpayer or entity having been, or not having been, required to do any thing or having done, or not having done, any thing is taken, if the taxpayer or entity is a trust, to refer to the trustee of the trust having been, or not having been, required to do that thing or having done, or not having done, that thing, as the case may be.
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