Small Business Roll-over (Subdivision 152-E of the ITAA 1997)
The small business roll-over allows a small business entity to defer the making of a capital gain from a CGT event happening in relation to a small business asset if it acquires replacement assets and certain conditions are satisfied.
To view the details of a CGT event, select Properties.
To enter the details of a new CGT event, select New.
Rollover/Retirement Exemption Details
Field
Description
Type
Select from the list either O for Rollover or R for Retirement.
Details
This refers to a description of the reason for seeking to roll over all or some of the capital gain calculated. Standard answers can be created in AE and Series 6 & 8 for details of all kinds. Click [F7] to select from the index of Standard answers, otherwise type the details.
Amount
This refers to the amount of the capital gain calculated which is to be rolled over.
The amount entered will be excluded from any total to be included as assessable income in the taxpayer's income tax return.
Code
Select from the list the code applicable to the rollover or exemption
