If a taxpayer is under 55 the exemption is only available if the profit is rolled over into a complying superannuation fund or approved deposit fund. Small business roll-over A small business is able to defer taxation by using a capital gains tax profit made on disposal of one business or asset to acquire another. The broad rule is that the replacement asset must be acquired within one year before or two years after the making of that capital gain. Shares are not, prima facie, active assets. Shares in another company might also be deemed to be active assets which will mean that the concessions should extend to disposals of shares in shareholding companies.
Similar rules apply to unit trusts.
The Law Society of New South Wales is the professional association for the solicitors branch of the legal profession in the State of New South Wales, Australia. 170 Phillip Street, Sydney NSW 2000, Australia.