Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_3:p2
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 2/22)
Character Range: 367750–370405

a statutory licence

 (1) There is a roll‑over if:

 (a) a *statutory licence (the original licence) you have expires or you surrender it; and

 (b) you get a new licence by renewing or extending the original one (which is due mainly to you having the original one).

Note 1: The roll‑over consequences are set out in section 124‑10. The original asset is the original licence. The new asset is the licence you get by renewing or extending the original licence.

Note 2: If there has been a capital improvement to the statutory licence: see section 108‑75.

 (2) The first element of the *cost base and *reduced cost base of the new licence includes any amount you paid to get it (which can include giving property: see section 103‑5).

Note: The rest of the first element is worked out under Subdivision 124‑A.

 (3) A statutory licence is an authority, licence, permit or quota (except a lease or a *mining entitlement or *prospecting entitlement) granted by:

 (a) an *Australian government agency under an *Australian law; or

 (b) a *foreign government agency under a *foreign law.

Subdivision 124‑D—Strata title conversion

124‑190  Strata title conversion

 (1) You can choose to obtain a roll‑over if:

 (a) you own property that gives you a right to occupy a unit in a building; and

 (b) the building's owner subdivides it into *stratum units; and

 (c) the owner transfers to you the stratum unit that corresponds to the unit you had the right to occupy just before the subdivision.

Note 1: The roll‑over consequences are set out in section 124‑10. The original asset is the property that gave you the right to occupy a unit in the building. The new asset is the stratum unit.

Note 2: Section 103‑25 tells you when you have to make the choice.

 (2) The first element of the *cost base and *reduced cost base of the *stratum unit includes any amount you paid to get it (which can include giving property: see section 103‑5).

Note: The rest of the first element is worked out under Subdivision 124‑A.

 (3) A stratum unit is a lot or unit (however described in an *Australian law or a *foreign law relating to strata title or similar title) and any accompanying common property.

Subdivision 124‑E—Exchange of shares or units

Table of sections

124‑240 Exchange of shares in the same company
124‑245 Exchange of units in the same unit trust

124‑240  Exchange of shares in the same company

  You can choose to obtain a roll‑over if:

 (a) you own *shares (the original shares) of a certain class in a company; and

 (b) the company redeems or cancels all shares of that class; and

 (c) the company issues you