Document ID: chunk:federal_register_of_legislation:C2016A00018:clause:1_1:p5
Version: federal_register_of_legislation:C2016A00018
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 5/5)
Character Range: 12417–13376

subject to small business roll‑over
  If:
 (a) section 328‑455 applies in relation to the transfer of an asset (the transferred asset) of the transferor's business to one or more transferees; and
 (b) the transferor has previously chosen a small business roll‑over under Subdivision 152‑E for a *CGT event that happened in relation to a *CGT asset for which the transferred asset is a replacement asset (within the meaning of sections 104‑185, 104‑190, 104‑197 and 104‑198);
sections 104‑185, 104‑190, 104‑197 and 104‑198 apply to each transferee (to the extent of the transferee's interest in the asset) as if the transferee, and not the transferor, made that choice.
Note: Sections 104‑185, 104‑190, 104‑197 and 104‑198 provide for capital gains to arise under CGT events J2, J5 and J6, after the choice of a small business roll‑over under Subdivision 152‑E has deferred the making of a capital gain.

Part 2—Other amendments

Income Tax Assessment Act 1997