Document ID: chunk:federal_register_of_legislation:C2010C00612:clause:1_1:p16
Version: federal_register_of_legislation:C2010C00612
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 16/19)
Character Range: 38993–41777

or trust to make 2 or more *eligible termination payments to a single stakeholder (whether or not by the same time), the company or trust may meet that requirement by making one payment or by making separate payments.

 (7) If a stakeholder is under 55 just before receiving an *eligible termination payment under subsection (1) (disregarding section 103‑10), an amount equal to that payment must be rolled over (within the meaning of Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936) except by being paid as mentioned in paragraph 27A(12)(c) of that Act.

Note: Paragraph 27A(12)(c) of the Income Tax Assessment Act 1936 deals with payments to life companies or registered organisations to purchase certain annuities.

Subdivision 152‑E—Small business roll‑over

Guide to Subdivision 152‑E

152‑400  What this Subdivision is about

      A small business roll‑over allows you to defer the making of a capital gain from a CGT event happening in relation to one or more small business assets if you acquire replacement assets.
      The concession in section 152‑205 (small business 50% reduction) applies before this one. For an additional exemption, see also Subdivision 152‑D (small business retirement exemption).

Table of sections

152‑405 Basic principles for the small business roll‑over
152‑410 When you can obtain the roll‑over
152‑415 What the roll‑over consists of
152‑420 Replacement asset conditions
152‑425 Rules where an individual who has obtained a roll‑over dies

152‑405  Basic principles for the small business roll‑over

 (1) You can choose to obtain a roll‑over if the basic conditions in Subdivision 152‑A are satisfied for the capital gain.

 (2) You must acquire a replacement asset within the period from one year before to 2 years after the happening of the last CGT event in the income year for which you obtain the small business roll‑over.

 (3) The form of the roll‑over is that the capital gain is disregarded to the extent that it does not exceed the cost base of the replacement asset.

 (4) You will make a separate capital gain if a CGT event subsequently happens to the replacement asset or if its status changes in particular ways.

[This is the end of the Guide.]

152‑410  When you can obtain the roll‑over

  You can choose to obtain a roll‑over under this Subdivision for a *capital gain if:
 (a) the basic conditions in Subdivision 152‑A are satisfied for the gain; and
 (b) within the period starting one year before, and ending 2 years after, the last *CGT event during the year for which you choose a small business roll‑over, you choose one or more *CGT assets as replacements (the replacement asset); and
 (c) the replacement asset satisfies the conditions set out in section 152‑420.

Note: Paragraph