Private ruling: period
Date of advice: 21 December 2018
Published: April 2019
Ruling period: Year ending 30 June 2019
Date scheme commenced: 1 July 2018

Ruling: Q1: Will the Commissioner extend the replacement asset period? | A1: Yes. Having considered your circumstances and the relevant factors the Commissioner considers it appropriate to grant an extension to the replacement asset period. Further information about the small business roll-over can be found by searching 'QC 52291' on ato.gov.au

Relevant facts and circumstances: You sold shares in a company. You applied the small business CGT concessions to the capital gain you made on the disposal, including the small business roll-over. The company went into liquidation and it became unclear how much consideration you would receive from the sale of your shares. You experienced extensive legal discussions and negotiations over an extended period of time to determine what the final sale consideration would be.

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