Document ID: chunk:federal_register_of_legislation:C2020C00226:clause:1_10
Version: federal_register_of_legislation:C2020C00226
Segment Type: clause
Provision Reference: sch 1 cl 10
Character Range: 8819–9826

10  Section 310‑50
Repeal the section, substitute:

310‑50  Choosing the form of the assets roll‑over
 (1) An entity that chooses a roll‑over under this Subdivision must choose the form of the roll‑over that applies to each of the following:
 (a) the original assets that are not *revenue assets;
 (b) the original assets that are revenue assets.
 (2) In respect of original assets that are not *revenue assets, the entity choosing the roll‑over must choose either section 310‑55 (global asset approach) or 310‑60 (individual asset approach) to apply to the original assets and the corresponding received assets.
 (3) In respect of original assets that are *revenue assets, the entity choosing the roll‑over must choose either section 310‑65 (global asset approach) or 310‑70 (individual asset approach) to apply to the original assets and the corresponding received assets.
Note: The entity choosing the form of the roll‑over may choose different forms of roll‑over for its CGT assets and revenue assets.