Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if there is roll - over relief because of subsection 40 - 340(1).
(2) The transferor must give the transferee a notice containing enough information about the transferor's * holding of the property for the transferee to work out how this Division applies to the transferee's holding of the * depreciating asset.
(3) The transferor must give the notice within 6 months after the end of the transferee's income year in which the * balancing adjustment event occurred, or within a longer period allowed by the Commissioner.
(4) The transferee must keep the notice until the end of 5 years after the earlier of these events:
(a) the transferee disposes of the property;
(b) the property is lost or destroyed.