INCOME TAX ASSESSMENT ACT 1997 - SECT 118.180 Acquisition of dwelling from company or trust on marriage or relationship breakdown--roll - over provision applying
INCOME TAX ASSESSMENT ACT 1997 - SECT 118.180
Acquisition of dwelling from company or trust on marriage or relationship breakdown--roll - over provision applying(1) This Subdivision applies to you as if you owned an * ownership interest in land or a dwelling during a period when it was actually owned by a company or trustee if:
(a) you * acquired the interest from the company or trustee; and
(b) it was acquired by the company or trustee on or after 20 September 1985; and
(c) a roll - over was available to the company or trustee under Subdivision 126 - A.
(2) If subsection (1) applies to a * dwelling, it cannot
be treated as your main residence during the period, despite other provisions
of this Subdivision that would allow you to treat it as your main residence
during the period.