Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p4
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 4/8)
Character Range: 2520532–2523085

If you *acquired the original licence (or all of the original licences) before 20 September 1985, you are taken to have acquired the new licence (or all of the new licences) before that day.

124‑165  Roll‑over consequences—some original licences were pre‑CGT, others were post‑CGT
 (1) This section applies if:
 (a) there was more than one original licence; and
 (b) you *acquired one or more of the original licences before 20 September 1985; and
 (c) you acquired one or more of the original licences on or after that day.
 (2) Each new licence is taken to be 2 separate *CGT assets that are both *statutory licences:
 (a) one (which you are taken to have *acquired on or after 20 September 1985) representing the extent to which you acquired the original licences on or after that day; and
 (b) another (which you are taken to have acquired before that day) representing the extent to which you acquired the original licences before that day.
 (3) The first element of the *cost base and *reduced cost base of the *CGT asset mentioned in paragraph (2)(a) in relation to a new licence is worked out under the formula:
where:
market value of all new licences is the total of the *market values of all of the new licences.
market value of new licence is the *market value of the new licence to which the *CGT asset mentioned in paragraph (2)(a) relates.
total post‑CGT cost base is the total of the *cost bases of all the original licences that you *acquired on or after 20 September 1985.

Subdivision 124‑D—Strata title conversion

124‑190  Strata title conversion
 (1) You can choose to obtain a roll‑over if:
 (a) you own property that gives you a right to occupy a unit in a building; and
 (b) the building's owner subdivides it into *stratum units; and
 (c) the owner transfers to you the stratum unit that corresponds to the unit you had the right to occupy just before the subdivision.
Note 1: The roll‑over consequences are set out in section 124‑10. The original asset is the property that gave you the right to occupy a unit in the building. The new asset is the stratum unit.
Note 2: Section 103‑25 tells you when you have to make the choice.
 (2) The first element of the *cost base and *reduced cost base of the *stratum unit includes any amount you paid to get it (which can include giving property: see section 103‑5).
Note: The rest of the first element is worked out under Subdivision 124‑A.
 (3) A stratum unit is a lot or unit (however described in an *Australian law or a *foreign law relating to strata title or similar title) and