Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p38
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 38/51)
Character Range: 105649–108473

consequential amendment of assessments)
  "(13) Section 170 does not prevent the amendment at any time of an
assessment of the transferee where section 73C or 73D has applied to:
  (a) the transferor in respect of the unit; or
  (b) if there have been 2 or more prior successive applications of this
section - any of the prior successive transferors in respect of the unit.
(Second or subsequent application of section - paragraph (2)(b) does not
apply)
  "(14) If, apart for this subsection, this section has applied to the
disposal of the unit to the transferee, then, in working out whether this
section applies to a subsequent disposal of the unit by:
  (a) the transferee; or
  (b) one or more subsequent successive transferees;
this section has effect as if paragraph (2)(b) (which deals with deductions)
had not been enacted.
(Interpretation)
  "(15) For the purposes of interpretation, this section is to be construed as
if it were part of section 73B.
Section 73B roll-over relief on disposal of unit of industrial property where
CGT roll-over relief allowed under section 160ZZO
(Roll-over relief where CGT roll-over relief allowed)
  "73G.(1) This section applies to the disposal of a unit of industrial
property (within the meaning of Division 10B) by an eligible company (the
'transferor') to another eligible company (the 'transferee') if:
  (a) section 160ZZO applies to the disposal of the unit by the transferor;
and
  (b) subject to subsection (5), apart from this section, an amount would be
included in the transferor's assessable income under subsection 73B(27A) in
respect of the disposal.
(Transferor not assessable under subsection 73B(27A) on disposal)
  "(2) Subsection 73B(27A) does not apply in respect of the disposal of the
unit by the transferor.
(No deduction for transferee's acquisition expenditure)
  "(3) No part of the expenditure (if any) incurred by the transferee in the
acquisition of the unit is an allowable deduction to the transferee under any
provision of this Act.
(Disposal by transferee where no roll-over relief - proceeds of disposal
assessable to transferee)
  "(4) If:
  (a) after the disposal of the unit to the transferee, the transferee
disposes of the unit; and
  (b) this section does not apply to the disposal by the transferee; the
transferee's assessable income of the year of income in which the disposal by
the transferee took place includes the consideration receivable in respect of
the disposal.
(Subsequent application of section - paragraph (1)(b) does not apply)
  "(5) If, apart from this subsection, this section has applied to the
disposal of the unit to the transferee, then, in working out whether this
section applies to a subsequent disposal of the unit by:
  (a) the transferee; or
  (b) one or more subsequent successive transferees;
this section