Document ID: chunk:federal_register_of_legislation:C2010C00499:clause:9_14
Version: federal_register_of_legislation:C2010C00499
Segment Type: clause
Provision Reference: sch 9 cl 14
Character Range: 81485–83271

14  After subsection 152‑45(1)
Insert:

Assets replaced during FSR transition (same owner roll‑overs)

 (1A) If a *CGT asset is an asset (the new asset) you acquired in a situation covered by section 124‑880, 124‑885 or 124‑890, then the active asset test in section 152‑35 applies as if:
 (a) you had acquired the new asset when you acquired the original asset; and
 (b) the new asset had been your *active asset at all times when the original asset was your active asset; and
 (c) the new asset had not been your active asset at all times when the original asset was not your active asset.

Note 1: Subdivision 124‑O provides a roll‑over for certain CGT assets that come to an end as a result of an FSR transition.

Note 2: If this subsection applies to a CGT asset, then section 152‑115 (which is about continuing time periods) will apply for the 15‑year exemption.

Assets replaced during FSR transition (new owner roll‑overs)

 (1B) If a *CGT asset is an asset (the new asset) acquired in a situation covered by section 124‑900, 124‑905 or 124‑910, then the active asset test in section 152‑35 applies as if:
 (a) the new owner had acquired the new asset when the original owner acquired the original asset; and
 (b) the new asset had been the *active asset of the new owner at all times when the original asset was the original owner's active asset; and
 (c) the new asset had not been the active asset of the new owner at all times when the original asset was not the original owner's active asset.

Note 1: Subdivision 124‑O provides a roll‑over for certain CGT assets that come to an end as a result of an FSR transition.

Note 2: If this subsection applies to a CGT asset, then section 152‑115 (which is about continuing time periods) will apply for the 15‑year exemption.