Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p18
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 18/48)
Character Range: 272843–275559

an amount was taken into account as a capital gain for the share under former section 160ZL of the Income Tax Assessment Act 1936.

Subdivision 104‑I—Australian residency ends

Table of sections
104‑165 Choices made under subsection 104‑165(2) of the Income Tax Assessment Act 1997
104‑166 Subsection 104‑165(1) still applies if you continue to be a short term Australian resident

104‑165  Choices made under subsection 104‑165(2) of the Income Tax Assessment Act 1997
 (1) This section applies if:
 (a) a choice was made under subsection 104‑165(2) of the Income Tax Assessment Act 1997; and
 (b) because of the choice, an asset is taken to have the necessary connection with Australia under subsection 104‑165(3) of the Income Tax Assessment Act 1997 just before the commencement of Schedule 4 of the Tax Laws Amendment (2006 Measures No. 4) Act 2006.
 (2) To avoid doubt, the choice has effect for the purposes of subsection 104‑165(3) of the Income Tax Assessment Act 1997 as in force on and after that commencement.
Note: This means that the asset will be taxable Australian property under the Income Tax Assessment Act 1997 as in force on and after that commencement.

104‑166  Subsection 104‑165(1) still applies if you continue to be a short term Australian resident
  Subsection 104‑165(1) of the Income Tax Assessment Act 1997 continues to apply, despite its repeal by item 20 of Schedule 1 to the Tax Laws Amendment (2006 Measures No. 1) Act 2006, to an individual:
 (a) who is in Australia on the day on which that item receives the Royal Assent; and
 (b) who remains an Australian resident from that day until the time subsection 104‑165(1) is applied in respect of him or her.

Subdivision 104‑J—CGT events relating to roll‑overs

Table of sections
104‑175 Company ceasing to be member of wholly‑owned group after roll‑over
104‑185 Change of status of replacement asset for a roll‑over under Division 17A of former Part IIIA of the 1936 Act or Division 123 of the 1997 Act

104‑175  Company ceasing to be member of wholly‑owned group after roll‑over
 (1) Unless subsection (2) or (3) of this section applies, sections 104‑175 and 104‑180 of the Income Tax Assessment Act 1997 apply if there was a roll‑over under former section 160ZZO of the Income Tax Assessment Act 1936 for a disposal of an asset from one company to another company (the transferee).
 (2) If CGT event J1 would happen in relation to the roll‑over in a situation involving something happening in relation to the transferee, that event does not happen if there would have been no deemed disposal and re‑acquisition of the asset by the transferee in that situation under whichever of these provisions would have been relevant for that