Document ID: chunk:federal_register_of_legislation:C2010C00184:clause:2_5:p2
Version: federal_register_of_legislation:C2010C00184
Segment Type: clause
Provision Reference: sch 2 cl 5 (pt 2/2)
Character Range: 108368–109604

(or the part of it) of the entity's original interest for which it was exchanged and for which the entity obtained the roll‑over.

 (3) In applying subsection (2), the entity reduces (but not below zero) the *cost base of the original interest (just before stopping owning it) by so much of that cost base as is attributable to an ineligible part (see section 124‑990).

 (4) The first element of the *reduced cost base of a replacement interest is worked out similarly.

124‑990  Partial roll‑over

 (1) The entity can obtain only a partial roll‑over if its *capital proceeds for its original interest include something (the ineligible proceeds) other than its replacement interest. There is no roll‑over for that part (the ineligible part) of its original interest for which it received ineligible proceeds.

 (2) The *cost base of the ineligible part is that part of the cost base of the original interest as is reasonably attributable to it.

124‑995  Pre‑CGT interests

  If the entity exchanges an original interest that the entity *acquired before 20 September 1985 for its replacement interest, the first element of the *cost base and *reduced cost base of the replacement interest is zero.

Part 2—Application of amendments