Document ID: chunk:federal_register_of_legislation:C2010C00637:clause:6_2:p1
Version: federal_register_of_legislation:C2010C00637
Segment Type: clause
Provision Reference: sch 6 cl 2 (pt 1/2)
Character Range: 35731–40525

2  Subsection 115‑30(1)
Repeal the subsection, substitute:

Entity is treated as acquiring some CGT assets early

 (1) Sections 115‑25, 115‑40 and 115‑45 (the affected sections) apply as if an entity (the acquirer) had acquired a *CGT asset described in an item of the table at the time mentioned in the item:

When the acquirer is treated as having acquired a CGT asset
Item                                                         The affected sections apply as if the acquirer had acquired this CGT asset:                                                                                                                                                 At this time:
  1                                                          A *CGT asset the acquirer *acquired in circumstances giving rise to a *same‑asset roll‑over                                                                                                                                 (a) when the entity that owned the CGT asset before the roll‑over *acquired it; or
                                                                                                                                                                                                                                                                                         (b) if the asset has been involved in an unbroken series of roll‑overs—when the entity that owned it before the first roll‑over in the series *acquired it
  2                                                          A *CGT asset that the acquirer *acquired as a replacement asset for a *replacement‑asset roll‑over                                                                                                                          (a) when the acquirer acquired the original asset involved in the roll‑over; or
                                                                                                                                                                                                                                                                                         (b) if the acquirer acquired the replacement asset for a roll‑over that was the last in an unbroken series of replacement‑asset roll‑overs—when the acquirer acquired the original asset involved in the first roll‑over in the series
  3                                                          A *CGT asset the acquirer *acquired as the *legal personal representative of a deceased individual, except one that was a *pre‑CGT asset of the deceased immediately before his or her death                                When the deceased *acquired the asset
  4                                                          A *CGT asset that *passed to the acquirer as the beneficiary of a deceased individual's estate, except one that was a *pre‑CGT asset of the deceased immediately before his or her death                                    When the deceased *acquired the asset
  5                                                          A *CGT asset that:                                                                                                                                                                                                          When the deceased died
                                                             (a) the acquirer *acquired as the *legal personal representative of a deceased individual; and
                                                             (b) was a *pre‑CGT asset of the deceased immediately before his or her death
  6                                                          A *CGT asset that:                                                                                                                                                                                                          When the deceased died
                                                             (a) *passed to the acquirer as the beneficiary of a deceased individual's estate; and
                                                             (b) was a *pre‑CGT asset of the deceased immediately before his or her death
  7                                                          The interest (or share of an interest) the acquirer is taken under section 128‑50 to have *acquired in another *CGT asset that the acquirer and another individual held as joint tenants immediately before he or she died  When the deceased *acquired his or her interest in the other CGT asset

Note: Under section 128‑50, the acquirer is taken to acquire the interest of a deceased individual in a CGT asset the acquirer and the deceased held as joint tenants immediately before the deceased's death (or an equal share of that interest if there are other surviving joint