Private ruling: Small business concessions - replacement asset
Date of advice: 4 September 2021
Published: November 2021
Ruling period: Year ending 30 June 20XX | Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner exercise the discretion under subsection 104-190(2) of the Income Tax Assessment Act 1997 (ITAA 1997) to extend the replacement asset period? | A1: Yes. Having regard to the particular circumstances of your case and the information provided, the Commissioner has applied the discretion and will extend the replacement asset period.

Relevant facts and circumstances: You sold your business and elected to use the small business replacement asset rollover concession. You have been unable to look for a new business due to continual COVID-19 government restrictions (lockdowns).

Relevant legislative provisions: Income Tax Assessment Act 1997 section 104-190(2)


This ruling applies for the following periods: