Document ID: chunk:federal_register_of_legislation:C2025C00029:section:7:p23
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 7 (pt 23/40)
Character Range: 1879805–1882393

each of the roll‑overs.
 (4) The conditions in subsection (5) or (6) must be satisfied just after the break‑up time.
 (5) If the recipient company was the holding company of the sub‑group, none of its *shares can be owned by:
 (a) the ultimate holding company; or
 (b) a company that is a *100% subsidiary of the ultimate holding company just after the break‑up time.
 (6) If the recipient company was not the holding company of the sub‑group, no *shares in it or in the holding company can be owned by:
 (a) the ultimate holding company; or
 (b) a company that is a *100% subsidiary of the ultimate holding company just after the break‑up time.

104‑182  Consolidated group break‑up
  *CGT event J1 does not happen if the recipient company ceases to be a *subsidiary member of a *consolidated group at the break‑up time (whether or not it becomes a subsidiary member of another consolidated group at that time).

104‑185  Change in relation to replacement asset or improved asset after a roll‑over under Subdivision 152‑E: CGT event J2
 (1) CGT event J2 happens if you choose a small business roll‑over under Subdivision 152‑E for a *CGT event that happens in relation to a *CGT asset in an income year and:
 (a) you *acquire a replacement asset (the replacement asset), or you incur *fourth element expenditure in relation to a CGT asset (also the replacement asset), or you do both, by the end of the *replacement asset period; and
 (b) the replacement asset is your *active asset at the end of the replacement asset period; and
 (c) if the replacement asset is a *share in a company or an interest in a trust, at the end of the replacement asset period:
 (i) either you, or an entity *connected with you, is a *CGT concession stakeholder in the company or trust; or
 (ii) CGT concession stakeholders in the company or trust have a *small business participation percentage in you of at least 90%; and
 (d) a change of a kind specified in subsection (2) or (3) happens after the end of the replacement asset period.
Note 1: The replacement asset period may be modified or extended, see section 104‑190.
Note 2: There is an exception: see subsection (8).
Note 3: There may be 2 or more replacement assets.
Note 4: CGT event J2 can also happen in relation to a capital gain you rolled‑over under Division 17A of former Part IIIA of the Income Tax Assessment Act 1936 or Division 123 of the Income Tax Assessment Act 1997 if the status of the replacement asset changes: see section 104‑185 of the Income Tax (Transitional Provisions) Act 1997.
 (2) For any replacement asset that satisfied