Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 126.45

  (1)   There may be a roll - over if a * CGT event (the trigger event ) happens involving a company (the originating company ) and another company (the recipient company ) in the circumstances set out in section   126 - 50.

  (2)   Only these * CGT events are relevant:

  (a)   CGT events A1 and B1 (a disposal case ); and

  (b)   CGT events D1, D2, D3 and F1 (a creation case ).

Note:   The full list of CGT events is in section   104 - 5.

  (3)   However, there is no roll - over for * CGT event B1 if title in the * CGT asset does not pass to the transferee at or before the end of the agreement.

Note:   CGT event J1 can happen if the recipient company stops being a 100% subsidiary of a company in the relevant group: see section   104 - 175.