Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p13
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 13/29)
Character Range: 2876477–2879233

the Income Tax Assessment Act 1936.

152‑330  15‑year rule has priority
  This Subdivision does not apply to a *capital gain to which Subdivision 152‑B (15‑year exemption) applies.
Note: Under that Subdivision, such a gain is entirely disregarded, so there is no need for any further concession to apply.

Subdivision 152‑E—Small business roll‑over

Guide to Subdivision 152‑E

152‑400  What this Subdivision is about

      A small business roll‑over allows you to defer the making of a capital gain from a CGT event happening in relation to one or more small business assets if the basic conditions in Subdivision 152‑A are satisfied for the gain.
      You may choose not to apply the concession in section 152‑205 (small business 50% reduction) before this one. For an additional exemption, see also Subdivision 152‑D (small business retirement exemption).

Table of sections

Operative provisions
152‑410 When you can obtain the roll‑over
152‑415 What the roll‑over consists of
152‑420 Rules where an individual who has obtained a roll‑over dies
152‑430 15‑year rule has priority

Operative provisions

152‑410  When you can obtain the roll‑over
  You can choose to obtain a roll‑over under this Subdivision for a *capital gain if the basic conditions in Subdivision 152‑A are satisfied for the gain.
Note 1: You can choose the roll‑over even if you have not yet acquired a replacement asset or incurred fourth element expenditure, but:
(a) CGT event J5 happens if, by the end of the replacement asset period, you do not acquire the asset or incur the expenditure (see section 104‑197); and
(b) CGT event J6 happens if, by the end of the replacement asset period, the cost of the replacement asset or the amount of fourth element expenditure incurred (or both) is less than the amount of the capital gain that you disregarded (see section 104‑198).
Note 2: If you have acquired a replacement asset or incurred fourth element expenditure but there is a change in relation to the replacement asset or improved asset after the end of the replacement asset period, CGT event J2 may happen: see section 104‑185.

152‑415  What the roll‑over consists of
  If you choose the roll‑over, you can choose to disregard all or part of each *capital gain to which this Subdivision applies.
Note: If you choose to disregard only some of the capital gain, you make a capital gain equal to the remaining amount.
Example: The original capital gain was $100,000. You have reduced it to $25,000 under other concessions (apart from the roll‑over). If you choose to disregard $20,000, you are left with a final capital gain of $5,000.

152‑420  Rules where an individual who has obtained a roll‑over dies
 (1) This section applies if:
 (a) a replacement asset, or an asset