INCOME TAX ASSESSMENT ACT 1997 - SECT 124.535 Rights as member of Indigenous corporation replacing pre - CGT and post - CGT mix of interest and rights in body
INCOME TAX ASSESSMENT ACT 1997 - SECT 124.535
Rights as member of Indigenous corporation replacing pre - CGT and post - CGT mix of interest and rights in body(a) you choose to obtain a roll - over under section 124 - 520 or 124 - 525 relating to rights (the replacement rights ) you have as a * member of a company incorporated under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 on account of the following (your original assets ):
(i) your interest in the body mentioned in that section;
(ii) your other rights relating to the body mentioned in that section; and
(b) you * acquired any of your original assets before 20 September 1985.
(2) You are taken to have * acquired the replacement rights before 20 September 1985.
(3) This section has effect despite subsection 124 -
15(5).