Private ruling: Fixed entitlement and Scrip for scrip Roll-over
Date of advice: 28 August 2025
Published: 27 October 2025

Ruling: Q1: Will the Commissioner exercise the discretion in subsection 272-5(3) of Schedule 2F to the Income Tax Assessment Act 1936 (ITAA 1936) to deem the Original Interest Holders as having fixed entitlements to all of the income and capital of the Roll-up Trusts immediately before, during and immediately after the exchange of interests when the Proposed Transaction is implemented? | A1: Yes | Q2: Will the Commissioner exercise the discretion in subsection 272-5(3) of Schedule 2F to the ITAA 1936 to deem the unit holders in Head Trust (Head Trust Interest Holders) as having fixed entitlements to all of the income and capital of the Head Trust immediately before, during and immediately after the exchange of interests when the Proposed Transaction is implemented? | A2: Yes Issue 2 - Scrip for scrip Rollover | Q3: Will each of the Original Interest Holders be eligible to obtain roll-over relief pursuant to Subdivision 124-M of the Income Tax Assessment Act 1997 (ITAA 1997) in respect of the exchange of their units in the Roll-up Trusts for Replacement Interests in the Head Trust (Acquiring Entity) under the Proposed Transaction? | A3: Yes




Subject: Fixed entitlement and Scrip for scrip Roll-over: The Commissioner was asked three questions about a Proposed Transaction. | The Commissioner has ruled on each of the questions.