Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p34
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 34/59)
Character Range: 2616599–2619539

at the completion time were acquired by it before that day.
Note: Generally, a capital gain or capital loss from a CGT asset acquired before 20 September 1985 can be disregarded: see Division 104.
 (3) The number (worked out as at the completion time) is the greatest possible that (when expressed as a percentage of all the *ownership interests in the *stapled entity *acquired by the trustee) does not exceed:
 (a) the *market value of the stapled entity's assets that it acquired before 20 September 1985; less
 (b) its liabilities (if any) in respect of those assets;
expressed as a percentage of the market value of all the stapled entity's assets less all of its liabilities. The amounts in paragraphs (a) and (b) are to be worked out as at the completion time.
 (4) The first element of the *cost base and *reduced cost base of each of the trustee's *ownership interests in that *stapled entity that are not taken by subsection (3) to have been *acquired before 20 September 1985 is such proportion as is reasonable of the total of the cost bases (as at the completion time) of that stapled entity's assets that it acquired on or after that day less its liabilities (if any) in respect of those assets.
 (5) In applying this section:
 (a) a liability of a *stapled entity that is not a liability in respect of a specific asset or assets of the stapled entity is a liability in respect of all the assets of the stapled entity; and
 (b) if a liability is in respect of 2 or more assets, the proportion of the liability that is in respect of any one of those assets is such amount as is reasonable having regard to the *market values of each of those assets.

Subdivision 124‑R—Water entitlements

Guide to Subdivision 124‑R

124‑1100  What this Subdivision is about
      There is a roll‑over if a CGT event happens to you because of something occurring in relation to one or more water entitlements. You do not need to own water entitlements for the event to happen to you.

Table of sections

Replacement case
124‑1105 Replacement water entitlements roll‑over
124‑1110 Roll‑over consequences—capital gain or loss disregarded
124‑1115 Roll‑over consequences—partial roll‑over
124‑1120 Roll‑over consequences—all original entitlements post‑CGT
124‑1125 Roll‑over consequences—all original entitlements pre‑CGT
124‑1130 Roll‑over consequences—some original entitlements pre‑CGT, others post‑CGT

Reduction case
124‑1135 Reduction in water entitlements roll‑over
124‑1140 Roll‑over consequences—capital gain or loss disregarded
124‑1145 Roll‑over consequences—all original entitlements post‑CGT
124‑1150 Roll‑over consequences—some original entitlements pre‑CGT, others post‑CGT

Variation to CGT asset case
124‑1155 Roll‑over for variation to CGT asset
124‑1160 Roll‑over consequences
124‑1165 Roll‑over consequences—partial roll‑over

Replacement case

124‑1105  Replacement water entitlements roll‑over

Automatic roll‑over for single