Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p30
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 30/59)
Character Range: 2606728–2609491

(b) be one in which participation was available on substantially the same terms for all of the holders of interests as members of the original MDO of a particular type.

124‑985  What the roll‑over is for post‑CGT interests
 (1) A *capital gain the entity makes from an original interest *acquired on or after 20 September 1985 is disregarded.
 (2) The entity works out the first element of the *cost base of each replacement interest the entity received as a result of the exchange by reasonably attributing to it the cost base (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.

Subdivision 124‑Q—Exchange of stapled ownership interests for ownership interests in a unit trust

Guide to Subdivision 124‑Q

124‑1040  What this Subdivision is about
      There is a roll‑over if you own ownership interests that are stapled and, as a result of a reorganisation, you stop owning those interests and you acquire or own ownership interests in an interposed unit trust.

Table of sections

Operative provisions
124‑1045 Exchange of stapled securities
124‑1050 Conditions
124‑1055 Consequences of the roll‑over for exchanging members
124‑1060 Consequences of the roll‑over for interposed trust

Operative provisions

124‑1045  Exchange of stapled securities
 (1) There is a roll‑over if:
 (a) you own *ownership interests in 2 or more trusts, or in one or more companies and one or more trusts, and those interests are stapled together to form stapled securities; and
 (b) at least one of the trusts is a trust whose trustee is not assessed and liable to pay tax under Division 6C of Part III of the Income Tax Assessment Act