Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 5/8)
Character Range: 2522868–2525459

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 with new shares (and you receive nothing else) in substitution for the original shares; and
 (d) the *market value of the new shares just after they were issued is at least equal to the market value of the original shares just before they were redeemed or cancelled; and
 (e) the *paid‑up share capital of the company just after the new shares were issued is the same as just before the original shares were redeemed or cancelled; and
 (f) one of these requirements is satisfied:
 (i) you are an Australian resident at the time of the redemption or cancellation; or
 (ii) if you are a foreign resident at that time—the original shares were *taxable Australian property just before that time and the new shares are taxable Australian property when they are issued.
Note 1: The roll‑over consequences are set out in Subdivision 124‑A. The original assets are the original shares. The new assets are the new shares.
Note 2: Section 103‑25 tells you when you have to make the choice.

124‑245  Exchange of units in the same unit trust
  You can choose to obtain a roll‑over if:
 (a) you own units (the original units) of a certain class in a unit trust; and
 (b) the trustee redeems or cancels all units of that class; and
 (c) the trustee issues you with new units (and you receive nothing else) in substitution for the original units; and
 (d) the *market value of the new units just after they were issued is at least equal to the market value of the original units just before they were redeemed or cancelled; and
 (e) one of these requirements is satisfied:
 (i) you are an Australian resident at the time of the redemption or cancellation; or
 (ii) if you are a foreign resident at that time—the original units were *taxable Australian property just before that time and the new units are taxable Australian property when they are issued.
Note: The roll‑over consequences are set out in Subdivision 124‑A. The