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INCOME TAX ASSESSMENT ACT 1997 - SECT 615.40 CGT consequences

INCOME TAX ASSESSMENT ACT 1997 - SECT 615.40

CGT consequences

    The consequences set out in Subdivision   124 - A also apply to a roll - over under this Division as if that roll - over were a roll - over covered by Division   124 (about replacement - asset roll - overs).

Note:   Those consequences generally involve:

(a)   disregarding a capital gain or capital loss you make from the disposal, redemption or cancellation of your shares or units in the original entity; and

(b)   working out the first element of the cost base of each of your new shares in the interposed entity by reference to the cost bases of your shares or units in the original entity.

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