Document ID: chunk:federal_register_of_legislation:C2010C00612:clause:2_4:p4
Version: federal_register_of_legislation:C2010C00612
Segment Type: clause
Provision Reference: sch 2 cl 4 (pt 4/5)
Character Range: 73327–76009

you *acquire your replacement interest, the acquiring entity is an Australian resident or a *resident trust for CGT purposes.

Note: If you are not an Australian resident and the acquiring entity is, the replacement interest has the necessary connection with Australia: see Division 136.

 (2) You cannot obtain the roll‑over if:
 (a) any *capital gain you might make from your replacement interest would be disregarded (except because of a roll‑over); or
 (b) you and the acquiring entity are members of the same *wholly‑owned group just before you stop owning your original interest.

Example: An example of a capital gain or loss being disregarded as mentioned in paragraph (2)(a) is because the asset is trading stock.

Note: A roll‑over may be available under Subdivision 126‑B in the circumstances mentioned in paragraph (2)(b).

 (3) You cannot obtain the roll‑over if:
 (a) the original entity or the acquiring entity is a trust; and
 (b) entities do not have *fixed entitlements to all of the income and capital of the trust.

124‑800  Cost base of interest received for pre‑CGT interest

  If, as part of the exchange for which you obtain the roll‑over, an interest that you acquired before 20 September 1985 is *acquired by the acquiring entity, the first element of the *cost base of any *CGT asset you acquire that is attributable to that interest is its market value just after you acquired it.

124‑805  Meaning of trust voting interest

  A trust voting interest in a trust is an interest in the trust that confers rights of the same or similar kind as the rights conferred by a *voting share in a company.

124‑810  Certain companies and trusts not regarded as having 300 members or beneficiaries

 (1) For the purposes of paragraph 124‑780(4)(a), a company is treated as if it did not have at least 300 *members if subsection (3) or (5) applies to it.

 (2) For the purposes of paragraph 124‑780(4)(a), a trust is treated as if it did not have at least 300 beneficiaries if subsection (4) or (5) applies to it.

Concentrated ownership

 (3) This subsection applies to a company if an individual owns, or up to 20 individuals own between them, directly or indirectly (through one or more interposed entities) and for their own benefit, *shares in the company:
 (a) carrying fixed entitlements to:
 (i) at least 75% of the company's income; or
 (ii) at least 75% of the company's capital; or
 (b) carrying at least 75% of the voting rights in the company.

 (4) This subsection applies to a trust if an individual owns, or up to 20 individuals own between them, directly or indirectly (through one or more interposed entities) and for their own benefit, units or