The Government will broaden the revenue asset and trading stock roll-overs that apply to the exchange of interests in a company or unit trust for shares in another company. This measure ensures that these revenue asset and trading stock roll-overs will be available for all interests that qualify for the general conditions of each of the roll-overs, rather than only shares in consolidated groups. The measure also improves integrity by requiring that the replacement shares in the interposed company must maintain the character of the original revenue asset or trading stock asset that was exchanged.
Date of effect: These measures will apply from 7.30pm (AEST) on 8 May 2012.
Source: Budget Paper No 2 [p 19]
[WTB 19, 8/5]