Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 122.5

This Subdivision sets out when you can obtain a roll - over if you transfer a CGT asset, or all the assets of a business, to a company. It also deals with the creation of a CGT asset in a company. There are consequences for the company also.

Table of sections

When is a roll - over available

122 - 15   Disposal or creation of assets--wholly - owned company

122 - 20   What you receive for the trigger event

122 - 25   Other requirements to be satisfied

122 - 35   What if the company undertakes to discharge a liability (disposal case)

122 - 37   Rules for working out what a liability in respect of an asset is

Replacement - asset roll - over if you dispose of a CGT asset

122 - 40   Disposal of a CGT asset

Replacement - asset roll - over if you dispose of all the assets of a business

122 - 45   Disposal of all the assets of a business

122 - 50   All assets acquired on or after 20   September 1985

122 - 55   All assets acquired before 20   September 1985

122 - 60   Assets acquired before and after 20   September 1985

Replacement - asset roll - over for a creation case

122 - 65   Creation of asset

Same - asset roll - over consequences for the company (disposal case)

122 - 70   Consequences for the company (disposal case)

Same - asset roll - over consequences for the company (creation case)

122 - 75   Consequences for the company (creation case)