Document ID: chunk:federal_register_of_legislation:C2025C00029:section:8:p7
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 8 (pt 7/13)
Character Range: 999735–1002363

applied under subsection (5) for one or more replacement assets.
 (2) You can only make this choice if you stop *holding the asset because:
 (a) the original asset is lost or destroyed; or
 (b) the original asset is compulsorily acquired by an *Australian government agency; or
 (c) the original asset is acquired by an entity (other than an Australian government agency or a *foreign government agency) under a power of compulsory acquisition conferred by a law covered under subsection (2A); or
 (d) you dispose of the original asset to an entity (other than a foreign government agency) in circumstances meeting all of these conditions:
 (i) the disposal takes place after a notice was served on you by or on behalf of the entity;
 (ii) the notice invited you to negotiate with the entity with a view to the entity acquiring the asset by agreement;
 (iii) the notice informed you that if the negotiations were unsuccessful, the asset would be compulsorily acquired by the entity;
 (iv) the compulsory acquisition would have been under a power of compulsory acquisition conferred by a law covered under subsection (2A); or
 (e) you dispose of land onto which the original asset was fixed to an entity (other than a foreign government agency) in circumstances meeting all of these conditions:
 (i) a mining lease was compulsorily granted over the land;
 (ii) the lease significantly affected your use of the land;
 (iii) the lease was in force just before the disposal;
 (iv) the entity to which you dispose of the land was the lessee under the lease; or
 (f) you dispose of land onto which the original asset was fixed to an entity (other than a foreign government agency) in circumstances meeting all of these conditions:
 (i) a mining lease would have been compulsorily granted over the land if you had not disposed of it;
 (ii) that lease would have significantly affected your use of the land;
 (iii) the entity to which you dispose of the land would have been the lessee under the lease.
 (2A) A law is covered under this subsection if it is:
 (a) an *Australian law (other than Chapter 6A of the Corporations Act 2001); or
 (b) a *foreign law (other than a foreign law corresponding to Chapter 6A of the Corporations Act 2001).
 (3) You can only make this choice for a replacement asset if you incur the expenditure on the replacement asset, or you start to *hold it:
 (a) no earlier than one year, or within a further period the Commissioner allows, before the *balancing adjustment event occurred; and
 (b) no later than one year, or within a further period the Commissioner allows, after the end of the income year in