Document ID: chunk:federal_register_of_legislation:C2007A00055:clause:1_12:p2
Version: federal_register_of_legislation:C2007A00055
Segment Type: clause
Provision Reference: sch 1 cl 12 (pt 2/3)
Character Range: 6626–9283

happens in relation to it; or
 (b) paragraph (1)(c) stops being satisfied.

Note: The full list of CGT events is in section 104‑5.

 (4) The time of the event is when the change happens.

 (5) You make a capital gain equal to:
 (a) if there is only one replacement asset that satisfied paragraph (1)(b) and, if applicable, paragraph (1)(c)—the amount of the capital gain that you disregarded under Subdivision 152‑E (the 152‑E amount); or
 (b) if there are 2 or more replacement assets that satisfied paragraph (1)(b) and, if applicable, paragraph (1)(c) and a change of a kind specified in subsection (2) or (3) occurs for all of them—the 152‑E amount; or
 (c) if there are 2 or more replacement assets that satisfied paragraph (1)(b) and, if applicable, paragraph (1)(c) and such a change occurs for one or more but not all of them—so much (if any) of the 152‑E amount as exceeds the sum of the following:
 (i) the first element of the *cost base of each of those replacement assets *acquired;
 (ii) the *incidental costs you incurred to acquire each of those replacement assets (which can include giving property, see section 103‑5);
 (iii) the amount of *fourth element expenditure incurred in relation to each of those replacement assets;
  in relation to which such a change did not occur.

 (6) If *CGT event J6 has happened in relation to the small business roll‑over under Subdivision 152‑E, subsection (5) applies to the 152‑E amount reduced by the amount of the capital gain under that event.

 (7) If *CGT event J2 happens again in a later income year in relation to the small business roll‑over under Subdivision 152‑E, subsection (5) applies to any remaining part of the 152‑E amount reduced by the amount of the capital gain under the earlier event.

 (8) CGT event J2 does not happen because of paragraph (2)(a) for a *share in a company or an interest in a trust if the share or interest ceased to be an *active asset only because of changes in the *market values of assets that were owned by the company or trust when you *acquired the share or interest or incurred the *fourth element expenditure.

 (9) You incur fourth element expenditure in relation to a *CGT asset if you incur capital expenditure that is included, under subsection 110‑25(5), in the fourth element of the *cost base of the asset.

104‑190  Modifying or extending the replacement asset period

 (1) The replacement asset period is modified if your *capital proceeds for the *CGT event are increased under subsection 116‑45(2) after the end of that period. Instead, you have until 12 months after you receive those additional proceeds to *acquire a replacement asset,