INCOME TAX ASSESSMENT ACT 1997 - SECT 124.1165 Roll - over consequences--partial roll - over
INCOME TAX ASSESSMENT ACT 1997 - SECT 124.1165
Roll - over consequences--partial roll - over(1) You can obtain only a partial roll - over in relation to a * CGT asset if the * capital proceeds for that asset includes something (the ineligible proceeds ) other than your retained asset. There is no roll - over for that part (the ineligible part ) of the asset for which you received the ineligible proceeds.
(2) The * cost base of the ineligible part is that part of the cost base of the * CGT asset as is reasonably attributable to the ineligible part.
(3) The * reduced cost base of the ineligible part is worked out similarly.
(4) In working out what is reasonably attributable to the
ineligible part for the purposes of subsections (2) and (3), have
regard to the * market value of the retained asset relative to the
market value of the ineligible proceeds.