Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p56
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 56/59)
Character Range: 2671033–2673857

the demerger, the facility:
 (i) becomes the owner of the roll‑over interest (which is a new or replacement interest in the demerged entity); and
 (ii) owns the roll‑over interest at the deeming time; and
 (e) under the arrangement, the investor is entitled to receive from the facility:
 (i) an amount equivalent to the *capital proceeds of any *CGT event that happens in relation to the roll‑over interest (less expenses); or
 (ii) if a CGT event happens in relation to the roll‑over interest together with CGT events happening in relation to other ownership interests—an amount equivalent to the investor's proportion of the total capital proceeds of the CGT events (less expenses).
 (2) The facility is treated as not owning the roll‑over interest at the deeming time.
 (3) This section applies for the purposes of:
 (a) applying this Division in relation to the demerger; and
 (b) item 2 of the table in subsection 115‑30(1), to the extent that it relates to a roll‑over under this Division that involves the demerger.

Division 126—Same‑asset roll‑overs

Table of Subdivisions
 Guide to Division 126
126‑A Marriage or relationship breakdowns
126‑B Companies in the same wholly‑owned group
126‑C Changes to trust deeds
126‑D Small superannuation funds
126‑E Entitlement to shares after demutualisation and scrip for scrip roll‑over
126‑G Transfer of assets between certain trusts

Guide to Division 126

126‑1  What this Division is about
      A same‑asset roll‑over allows a capital gain or loss an entity makes from disposing of a CGT asset to, or creating a CGT asset in, another entity to be disregarded. For a disposal, certain attributes of the asset are transferred to the receiving entity.

Subdivision 126‑A—Marriage or relationship breakdowns

Table of sections
126‑5 CGT event involving spouses
126‑15 CGT event involving company or trustee
126‑20 Subsequent CGT event happening to roll‑over asset where transferor was a CFC or a non‑resident trust
126‑25 Conditions for the purposes of subsections 126‑5(3A) and 126‑15(5)

126‑5  CGT event involving spouses
 (1) There is a roll‑over if a *CGT event (the trigger event) happens involving an individual (the transferor) and his or her *spouse (the transferee), or a former *spouse (also the transferee), because of:
 (a) a court order under the Family Law Act 1975 or under a *State law, *Territory law or *foreign law relating to breakdowns of relationships between spouses; or
 (b) a maintenance agreement approved by a court under section 87 of the Family Law Act 1975 or a corresponding agreement approved by a court under a corresponding *foreign law; or
 (d) something done under:
 (i) a financial agreement made under Part VIIIA of the Family Law Act 1975 that is binding because of section 90G of that Act; or
 (ii) a corresponding written agreement