Document ID: chunk:federal_register_of_legislation:C2010C00262:clause:7_1
Version: federal_register_of_legislation:C2010C00262
Segment Type: clause
Provision Reference: sch 7 cl 1
Character Range: 81063–81748

1  Before subsection 328‑243(1)
Insert:

 (1A) There is roll‑over relief under subsection 40‑340(1) (as affected by subsection 40‑340(2)) if:
 (a) *balancing adjustment events occur for *depreciating assets on a day (the BAE day) because an entity (the transferor) disposes of the assets in an income year to another entity (the transferee); and
 (b) the disposal involves a *CGT event; and
 (c) the conditions in item 1, 2 or 3 of the table in subsection 40‑340(1) are satisfied; and
 (d) deductions for the assets are calculated under this Subdivision; and
 (e) the transferor and the transferee jointly choose the roll‑over relief; and
 (f) the condition in subsection (2) is met.