Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:2_18
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 2 cl 18
Character Range: 880548–881381

18  Additional roll‑over relief

  There is a roll‑over under Subdivision 126‑B of the Income Tax Assessment Act 1997 (which normally applies only to transfers between companies in the same wholly‑owned group) if:

 (a) the trigger event is a transfer to which this Act applies; and

 (b) the requirements of that Subdivision are met, disregarding:

 (i) subsection 126‑50(1) of that Act (about the originating and recipient companies being members of the same wholly‑owned group); and

 (ii) subsection 126‑50(5) of that Act (about the residency status of the originating and recipient companies and the asset's connection to Australia); and

 (iii) section 126‑55 (about the originating and recipient companies choosing to obtain the roll‑over).

This is in addition to that Subdivision's effect apart from this section.