Document ID: chunk:federal_register_of_legislation:C2016A00054:clause:1_8:p3
Version: federal_register_of_legislation:C2016A00054
Segment Type: clause
Provision Reference: sch 1 cl 8 (pt 3/3)
Character Range: 27249–29041

360‑50(1) has been continuously held by the entity mentioned in that subsection; and
 (b) then:
 (i) the share, or interests in the share, are *disposed of in a way that gives rise to a trigger event (see section 122‑15 or 122‑125) for a roll‑over under Division 122; or
 (ii) the share becomes the original interest (see paragraph 124‑780(1)(a)) for a roll‑over under Subdivision 124‑M; and
 (c) the roll‑over happens on or after the first anniversary, but before the tenth anniversary, of the issue of the share;
the *first element of the *cost base and *reduced cost base of the share just before the roll‑over is taken to be its *market value at that time.
Note: This subsection is a separate modified CGT treatment, and not a continuation of the modifications made by section 360‑50.
 (2) If:
 (a) an asset mentioned in paragraph 360‑60(2)(a) for a roll‑over has been continuously held by the entity that *acquired that asset for that roll‑over; and
 (b) then:
 (i) that asset, or interests in that asset, are *disposed of in a way that gives rise to a trigger event (see section 122‑15 or 122‑125) for a roll‑over under Division 122; or
 (ii) that asset becomes the original interest (see paragraph 124‑780(1)(a)) for a roll‑over under Subdivision 124‑M; and
 (c) the later roll‑over happens on or after the first anniversary, but before the tenth anniversary, of the issue of the original share (see subsection 360‑60(2) for the earlier roll‑over;
the *first element of the *cost base and *reduced cost base of that asset just before the later roll‑over is taken to be its *market value at that time.
Note: This subsection is a separate modified CGT treatment, and not a continuation of the modifications made by section 360‑50.

Part 2—Other amendments

Income Tax Assessment Act 1936