Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_15
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 15
Character Range: 206814–208755

15                            Disposal of a security under a securities lending arrangement                          section 26BC

Subdivision 112‑D—Same‑asset roll‑overs

Table of sections

112‑135 Effect of this Subdivision
112‑140 What is a same‑asset roll‑over?
112‑145 How is the cost base of the asset modified?
112‑150 Table of same‑asset roll‑overs

112‑135  Effect of this Subdivision

  This Subdivision is a *Guide.

Note: In interpreting an operative provision, a Guide may be considered only for limited purposes: see section 950‑150.

112‑140  What is a same‑asset roll‑over?

  A same‑asset roll‑over allows one entity (the transferor) to disregard a capital gain or loss it makes from disposing of a CGT asset to, or creating a CGT asset in, another entity (the transferee). Any gain or loss is deferred until another CGT event happens in relation to the asset (in the hands of the transferee).

  All same‑asset roll‑overs are set out in Divisions 122 and 126.

112‑145  How is the cost base of the asset modified?

  If the transferor acquired the asset on or after 20 September 1985:

 (a) the first element of the asset's cost base (in the hands of the transferee) is replaced by the asset's cost base at the time the transferee acquired it; and

 (b) the first element of the asset's reduced cost base (in the hands of the transferee) is replaced by the asset's reduced cost base at the time the transferee acquired it.

Note: If the transferor acquired the asset before 20 September 1985, the transferee is taken to have acquired it before that day: see Subdivision 126‑A.

112‑150  Table of same‑asset roll‑overs

  This table sets out all the same‑asset roll‑overs and tells you where you can find more detail about each one.

Same‑asset roll‑overs
Item                   For the rules about this roll‑over:                                                                                      See: