Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf you are an individual or a trustee, you can choose to obtain a roll-over if one of the * CGT events (the trigger event ) specified in this table happens involving you and a company in the circumstances set out in sections 122-20 to 122- 35.
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Relevant * CGT events |
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Event No. |
What you do |
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A1 |
* Dispose of a CGT asset, or all the assets of a business, to the company |
|
D1 |
Create contractual or other rights in the company |
|
D2 |
Grant an option to the company |
|
D3 |
Grant the company a right to income from mining |
|
F1 |
Grant a lease to the company, or renew or extend a lease |
Note 1: The roll-over starts at section 122-40.
Note 2: Section 103- 25 tells you when you have to make the choice.
Example: Gavin runs a plumbing business. He wants to incorporate it so he disposes of all its assets to a company. He becomes the sole shareholder of the company.