Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p9
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 9/79)
Character Range: 4852785–4855638

310‑65 (global asset approach) or 310‑70 (individual asset approach) to apply to the original assets and the corresponding received assets.
Note: The entity choosing the form of the roll‑over may choose different forms of roll‑over for its CGT assets and revenue assets.

Subdivision 310‑E—Consequences of choosing assets roll‑over

Table of sections
310‑55 CGT assets—if global asset approach chosen
310‑60 CGT assets—individual asset approach
310‑65 Revenue assets—if global asset approach chosen
310‑70 Revenue assets—individual asset approach
310‑75 Further consequences for roll‑overs involving life insurance companies

310‑55  CGT assets—if global asset approach chosen

Consequences for transferring entity
 (1) For each of the original assets to which this section applies, the transferring entity's *capital proceeds from the relevant transfer event are taken to be an amount equal to:
 (a) if, apart from this subsection, the event would result in a *capital gain—the asset's *cost base just before the event; or
 (b) if, apart from this subsection, the event would result in a *capital loss—the asset's *reduced cost base just before the event.
Note: This section only applies if it is chosen to apply under subsection 310‑50(2).

Consequences for receiving entity
 (2) For each of the received assets to which this section applies, the first element of the *cost base of the asset (in the hands of the receiving entity) is taken to be an amount equal to the cost base of the corresponding original asset just before the relevant transfer event.
 (3) For each of the received assets to which this section applies, the first element of the *reduced cost base of the asset (in the hands of the receiving entity) is taken to be an amount equal to the reduced cost base of the corresponding original asset just before the relevant transfer event.

310‑60  CGT assets—individual asset approach

Consequences for transferring entity
 (1) The transferring entity may disregard any *capital gain or *capital loss for a transfer event relating to an original asset to which this section applies.
Note: This section only applies if it is chosen to apply under subsection 310‑50(2).
 (2) Subsections (3), (4) and (5) apply if under subsection (1) the transferring entity disregards a *capital gain or *capital loss for a transfer event relating to an original asset.
 (3) The transferring entity's *capital proceeds from the transfer event are taken to be an amount equal to:
 (a) if, apart from this subsection, the event would result in a *capital gain—the asset's *cost base just before the event; or
 (b) if, apart from this subsection, the event would result in a *capital loss—the asset's *reduced cost base just before the event.

Consequences for receiving entity
 (4) The first element of the *cost base of the corresponding received asset (in