Roll-over Relief under Division 152 of the ITAA 1997 allows a taxpayer to defer a capital gain rather than paying tax in the current year. The gain is deferred until the replacement asset is eventually sold, or until the taxpayer no longer meets the relevant conditions. There are two types of Roll-over Relief: replacing the asset with another active business asset within two years of the disposal, or contributing the capital gain amount to a complying superannuation fund. Roll-over Relief is particularly useful when a client wants to reinvest the proceeds into a new business or asset and does not want to pay CGT in the current year. In ChangeGPS CGT, you indicate your roll-over intentions in Step 3 — Eligibility, and the app models the roll-over scenario in Step 4 — Scenarios alongside other available concessions.
What is Roll-over Relief and when should I use it in Capital Gains Tax?
Overview of Roll-over Relief, including deferral options and how ChangeGPS applies and models the concession.