Document ID: chunk:federal_register_of_legislation:C2025C00029:section:115:p7
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 115 (pt 7/40)
Character Range: 6516054–6519027

and 5

Each volume has its own contents

About this compilation

This compilation

This is a compilation of the Income Tax Assessment Act 1997 that shows the text of the law as amended and in force on 1 January 2025 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents
Chapter 3—Specialist liability rules
Part 3‑95—Value shifting
Division 723—Direct value shifting by creating right over non‑depreciating asset
Subdivision 723‑A—Reduction in loss from realising non‑depreciating asset
723‑1 Object
723‑10 Reduction in loss from realising non‑depreciating asset over which right has been created
723‑15 Reduction in loss from realising non‑depreciating asset at the same time as right is created over it
723‑20 Exceptions
723‑25 Realisation event that is only a partial realisation
723‑35 Multiple rights created to take advantage of the $50,000 threshold
723‑40 Application to CGT asset that is also trading stock or revenue asset
723‑50 Effects if right created over underlying asset is also trading stock or a revenue asset
Subdivision 723‑B—Reducing reduced cost base of interests in entity that acquires non‑depreciating asset under roll‑over
723‑105 Reduced cost base of interest reduced when interest realised at a loss
723‑110 Direct and indirect roll‑over replacement for underlying asset
Division 725—Direct value shifting affecting interests in companies and trusts
Guide to Division 725
725‑1 What this Division is about
Subdivision 725‑A—Scope of the direct value shifting rules
725‑45 Main object
725‑50 When