Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 124.515

    The object of this Subdivision is to ensure that CGT considerations for * members of a body incorporated under a law do not impede a change of incorporation involving converting the body to, or replacing it with, a company incorporated under:

  (a)   the Corporations Act 2001 or a similar * foreign law; or

  (b)   the Corporations (Aboriginal and Torres Strait Islander) Act 2006 .

Note:   Subdivision   620 - A provides a roll - over for the assets of the body.