Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p7
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 7/8)
Character Range: 2527593–2530302

choose to obtain a roll‑over if:
 (a) you own rights (the original rights) to *acquire units in a unit trust or to acquire an option to acquire units in a unit trust; or
 (b) you own an option (the original option) to acquire units in a unit trust;
and these other requirements are satisfied.
Note: Section 103‑25 tells you when you have to make the choice.
 (2) The units must:
 (a) be consolidated and divided into new units of a larger amount; or
 (b) be subdivided into new units of a smaller amount.
 (3) The trustee must cancel the original rights or original option because of the consolidation or subdivision.
 (4) The trustee must:
 (a) issue you with new rights (relating to the new units) in substitution for the original rights; or
 (b) issue you with a new option (relating to the new units) in substitution for the original option.
 (5) You must receive nothing else in substitution for the original rights or original option.
 (6) The *market value of the new rights or new option just after it was issued must be at least equal to the market value of the original rights or original option just before it was cancelled.
 (7) One of these requirements must be satisfied:
 (a) you must be an Australian resident at the time of the cancellation; or
 (b) if you are a foreign resident at that time:
 (i) the original rights or original option were *taxable Australian property just before that time; and
 (ii) the new rights or new option are taxable Australian property when they are issued.
Note: The roll‑over consequences are set out in Subdivision 124‑A. The original asset is the original rights or original option. The new asset is the new rights or new option.

Subdivision 124‑I—Change of incorporation

Guide to Subdivision 124‑I

124‑510  What this Subdivision is about
      Roll‑over relief is available for members of a body that is incorporated under one law and is converted to, or replaced with, a body incorporated under another law.

Table of sections

Object of this Subdivision
124‑515 Object of this Subdivision

Change of incorporation without change of entity
124‑520 Change of incorporation without change of entity

Old corporation wound up
124‑525 Old corporation wound up

Special consequences of some roll‑overs
124‑530 Shares in company replacing pre‑CGT and post‑CGT mix of interest and rights in body
124‑535 Rights as member of Indigenous corporation replacing pre‑CGT and post‑CGT mix of interest and rights in body

Object of this Subdivision

124‑515  Object of this Subdivision
  The object of this Subdivision is to ensure that CGT considerations for *members of a body incorporated under a law do not impede a change of incorporation involving converting the