Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p14
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 14/18)
Character Range: 2833980–2836537

made by the trustee during the year—the Commissioner is of the opinion that, if a distribution had been made during the year, at least 75% of the distribution would have been made to no more than 20 persons.

152‑45  Continuing time periods for involuntary disposals

Asset compulsorily acquired, lost or destroyed
 (1) If a *CGT asset is an asset (the new asset) you acquired to satisfy the requirement in subsection 124‑70(2) or 124‑75(2) for a roll‑over under Subdivision 124‑B, then the active asset test in section 152‑35 applies as if:
 (a) you had acquired the new asset when you acquired the old asset; and
 (b) the new asset had been your *active asset at all times when the original asset was your active asset; and
 (c) the new asset had not been your active asset at all times when the original asset was not your active asset.
Note 1: Subdivision 124‑B allows you to choose a roll‑over if your CGT asset is compulsorily acquired, lost or destroyed.
Note 2: If this subsection applies to a CGT asset, then section 152‑115 (which is about continuing time periods) will apply for the 15‑year exemption.

Assets replaced during FSR transition (same owner roll‑overs)
 (1A) If a *CGT asset is an asset (the new asset) you acquired in a situation covered by former section 124‑880, 124‑885 or 124‑890, then the active asset test in section 152‑35 applies as if:
 (a) you had acquired the new asset when you acquired the original asset; and
 (b) the new asset had been your *active asset at all times when the original asset was your active asset; and
 (c) the new asset had not been your active asset at all times when the original asset was not your active asset.
Note 1: Former Subdivision 124‑O provided a roll‑over for certain CGT assets that came to an end as a result of an FSR transition.
Note 2: If this subsection applies to a CGT asset, then section 152‑115 (which is about continuing time periods) will apply for the 15‑year exemption.

Assets replaced during FSR transition (new owner roll‑overs)
 (1B) If a *CGT asset is an asset (the new asset) acquired in a situation covered by former section 124‑900, 124‑905 or 124‑910, then the active asset test in section 152‑35 applies as if:
 (a) the new owner had acquired the new asset when the original owner acquired the original asset; and
 (b) the new asset had been the *active asset of the new owner at all times when the original asset was the original owner's active asset; and
 (c) the new asset had not been the active asset of the new owner at all times when the original asset was