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 7/13)
Character Range: 2489906–2492561

your way around this Division
 (1) First, find out if you can obtain a roll‑over when your ownership of one or more CGT assets ends and you acquire one or more CGT assets: see Subdivisions 124‑B to 124‑R.
Note: If you carry on a small business, you may also be able to obtain a roll‑over under Subdivision 152‑E.
 (2) Second, find out what the consequences are for being able to obtain a roll‑over: see Subdivision 124‑A.
Note: The consequences of a scrip for scrip roll‑over are set out in Subdivision 124‑M. The consequences of replacing a statutory licence by a new statutory licence are set out in Subdivision 124‑C. The consequences of an exchange of a membership interest in an MDO are set out in Subdivision 124‑P. The consequences of an exchange of stapled ownership interests are set out in Subdivision 124‑Q. The consequences of a roll‑over for water entitlements are set out in Subdivision 124‑R.
 (3) Third, find out if there are any special rules relevant to your situation: see the Subdivision under which you can get the roll‑over.

Subdivision 124‑A—General rules

Table of sections
124‑10 Your ownership of one CGT asset ends
124‑15 Your ownership of more than one CGT asset ends
124‑20 Share and interest sale facilities

124‑10  Your ownership of one CGT asset ends
 (1) There are these consequences (in most cases) if you can obtain a roll‑over when your ownership of a *CGT asset (the original asset) ends and you *acquire one or more CGT assets (the new assets) in a situation covered by this Division.
 (1A) A *car, motor cycle or similar vehicle must not be one of the new assets.
 (2) A *capital gain or a *capital loss you make from the original asset is disregarded.
 (3) If you *acquired the original asset on or after 20 September 1985, the first element of each new asset's *cost base is:
The first element of each new asset's *reduced cost base is worked out similarly.
Note 1: In some cases the amount you paid to acquire the new asset also forms part of the first element: see Subdivision 124‑D (about strata title conversion).
Note 2: There are modifications to the consequences in Subdivision 124‑B (about compulsory acquisition, loss or destruction), Subdivision 124‑C (about statutory licences), Subdivision 124‑J (about Crown leases) and Subdivision 124‑L (about prospecting and mining).
Note 3: No other elements of the cost base of the new asset are affected by the roll‑over.
Note 4: There are special indexation rules for roll‑overs: see Division 114.
Note 5: The reduced cost base may be modified for a roll‑over happening after a demerger: see section 125‑170.
 (4) If you *acquired the original asset before 20