Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p25
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 25/48)
Character Range: 289865–292716

to the entity in relation to the dwelling as if that item required the dwelling to be the deceased's main residence throughout the deceased's ownership period.
 (3) Section 118‑192 and subsections 118‑190(4) and 118‑200(4) do not apply to the entity in relation to the dwelling.

Subdivision 118‑C—Goodwill

Table of sections
118‑260 Business exemption threshold

118‑260  Business exemption threshold
  Despite section 118‑260 of the Income Tax Assessment Act 1997, the Commissioner is entitled to publish the business exemption threshold for the 1998‑99 income year:
 (a) before the beginning of that year; or
 (b) within a reasonable time after the beginning of that year.

Division 121—Record keeping

Table of sections
121‑15 Retaining records under Division 121
121‑25 Records for mergers between qualifying superannuation funds

121‑15  Retaining records under Division 121
  If you were retaining records under former section 160ZZU of the Income Tax Assessment Act 1936 for an asset, you must continue to retain them in accordance with Division 121 of the Income Tax Assessment Act 1997.

121‑25  Records for mergers between qualifying superannuation funds
 (1) A superannuation fund to which former subsection 160ZZU(6A) of the Income Tax Assessment Act 1936 applied just before the start of the 1998‑99 income year must keep the records referred to in that subsection, and retain them until the end of 30 June 2002.
 (2) A superannuation fund to which former subsection 160ZZU(6B) of the Income Tax Assessment Act 1936 applied just before the start of the 1998‑99 income year in relation to a CGT asset must keep the records referred to in that subsection for the asset, and retain them until the end of 5 years after CGT event A1, B1, C1, C2, G1 or G3 happens in relation to the asset.
Note: The full list of CGT events is in section 104‑5 of the Income Tax Assessment Act 1997.
Penalty: 30 penalty units.
 (3) Subsection (1) or (2) does not require a fund to retain records if the Commissioner notifies the fund that the retention of the records is not required.

Part 3‑3—Capital gains and losses: special topics

Division 124—Replacement‑asset roll‑overs

Table of Subdivisions
124‑C Statutory licences
124‑I Change of incorporation

Subdivision 124‑C—Statutory licences

Table of sections
124‑140 New statutory licence—ASGE licence etc.
124‑141 ASGE licence etc.—cost base of ineligible part
124‑142 ASGE licence etc.—cost base of aquifer access licence etc.

124‑140  New statutory licence—ASGE licence etc.
 (1) Sections 124‑141 and 124‑142 apply if:
 (a) there are one or more roll‑overs under section 124‑140 of the Income Tax Assessment Act 1997 where:
 (i) your ownership of one or more statutory licences (each of which is an original licence) ends, resulting in CGT event C2 happening to the licence (or to each of the licences