Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p39
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 39/59)
Character Range: 2629381–2632170

the *CGT event referred to in section 124‑1135 happens.

124‑1150  Roll‑over consequences—some original entitlements pre‑CGT, others post‑CGT
 (1) This section applies if:
 (a) you *acquired one or more of the original entitlements before 20 September 1985; and
 (b) you acquired one or more of the original entitlements on or after that day.
 (2) You are taken to have *acquired so many of your retained entitlements before 20 September 1985 as is reasonable, having regard to:
 (a) the number and *market value of your original entitlements; and
 (b) the number and market value of your retained entitlements.
 (3) The first element of the *cost base of each of your retained entitlements that are not taken by subsection (2) to have been *acquired before 20 September 1985 (your post‑CGT entitlements) is such amount as is reasonable having regard to:
 (a) the total of the cost bases of the original entitlements you acquired on or after 20 September 1985; and
 (b) the number and *market value of the your post‑CGT entitlements.
 (4) The reduced cost base of each of your post‑CGT entitlements is worked out similarly.

Variation to CGT asset case

124‑1155  Roll‑over for variation to CGT asset
  There is a roll‑over if:
 (a) a *CGT event happens to a *CGT asset that you own; and
 (b) the CGT event happens as a direct result of the circumstances that gave rise to a roll‑over under section 124‑1105; and
 (c) you continue to be the owner of the asset (the retained asset) immediately after the CGT event has happened.

124‑1160  Roll‑over consequences
  A *capital gain or *capital loss you make from the *CGT event is disregarded.

124‑1165  Roll‑over consequences—partial roll‑over
 (1) You can obtain only a partial roll‑over in relation to a *CGT asset if the *capital proceeds for that asset includes something (the ineligible proceeds) other than your retained asset. There is no roll‑over for that part (the ineligible part) of the asset for which you received the ineligible proceeds.
 (2) The *cost base of the ineligible part is that part of the cost base of the *CGT asset as is reasonably attributable to the ineligible part.
 (3) The *reduced cost base of the ineligible part is worked out similarly.
 (4) In working out what is reasonably attributable to the ineligible part for the purposes of subsections (2) and (3), have regard to the *market value of the retained asset relative to the market value of the ineligible proceeds.

Subdivision 124‑S—Interest realignment arrangements

Guide to Subdivision 124‑S

124‑1220  What this Subdivision is about
      There is roll‑over relief if an interest in a mining, quarrying or prospecting right is disposed of under an interest realignment arrangement.

Table of sections

Operative provisions
124‑1225 Disposals of