Private ruling: CGT Replacement Asset Rollover - Extension of Time
Date of advice: 26 September 2025
Published: 17 November 2025
Ruling period: Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX | Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner exercise his discretion under subsection 104-190(2) of the Income Tax Assessment Act 1997 (ITAA 1997) to extend the two-year time limit to acquire replacement assets? | A1: Yes, the Commissioner will exercise his discretion in accordance with subsection 104-190(2) of the ITAA 1997 and extend the replacement asset period. You disposed of a CGT asset and a CGT event happened. You have chosen to apply the small business rollover to the capital gain from the disposal of the CGT asset. Having considered your circumstances and the relevant factors, the Commissioner will apply his discretion and extend the replacement asset period.

Relevant facts and circumstances: You sold an investment which was an active asset. You commenced your search for a replacement asset. Replacement assets were not acquired by you within the two-year timeframe. This was a result of unexpected complications with the new purchaser and urgent family obligations overseas due to health concerns. You decided to enter a new industry and were required to obtain approvals by the relevant regulatory unit.

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