122-15

Disposal or creation of assets—wholly‑owned company

Current

If you are an individual or a trustee, you can choose to obtain a roll‑over if one of the *CGT events (the trigger event) specified in this table happens involving you and a company in the circumstances set out in sections 122‑20 to 122‑35.

Relevant *CGT events
Event No.	What you do
A1	*Dispose of a CGT asset, or all the assets of a business, to the company
D1	Create contractual or other rights in the company
D2	Grant an option to the company
D3	Grant the company a right to income from mining
F1	Grant a lease to the company, or renew or extend a lease

Note 1:

The roll‑over starts at section 122‑40.

Note 2:

Section 103‑25 tells you when you have to make the choice.

Note 3:

A roll‑over may also be available under Subdivision 328‑G (Restructures of small businesses).

Example:

Gavin runs a plumbing business. He wants to incorporate it so he disposes of all its assets to a company. He becomes the sole shareholder of the company.

Research tools for this sectionSubscription

Cited by Analyse Interrogate History Equivalents

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.