CGT rollover on ending of a statutory licence

The Assistant Treasurer has announced that the Government will amend the CGT provisions in the ITAA 1997 that apply to holders of statutory licences to allow a partial CGT roll-over where a statutory licence ends and is replaced by one or more new licences and the licensee is offered non-licence capital proceeds such as money. Partial roll-over will be available to the extent that the original licence is replaced by a new statutory licence or licences. The amendment will apply to CGT events that happen in the 2006-07 income year and later income years.