Document ID: chunk:federal_register_of_legislation:C2010C00685:clause:1_160zzpo
Version: federal_register_of_legislation:C2010C00685
Segment Type: clause
Provision Reference: sch 1 cl 160ZZPO
Character Range: 7837–8568

160ZZPO  What this Subdivision is about

      This Subdivision sets out the way in which roll‑over relief is given to a taxpayer in respect of a year of income in which certain assets (roll‑over assets) are disposed of by the taxpayer.
      If certain threshold criteria and other conditions are satisfied, capital gains do not accrue in respect of the disposals and net roll‑over amounts are worked out for the roll‑over assets.
      The taxpayer may then nominate certain replacement assets in respect of the net roll‑over amounts and is to apportion the net roll‑over amounts to replacement assets in accordance with various rules.
      The amounts apportioned are taken to reduce the cost base of the replacement assets.