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If there is a disposition of assets on or after 1 July 2002, the rolling period is the period comprising the tax year in which the relevant disposition took place and such (if any) of the 4 previous tax years as occurred after 30 June 2002. This means that disposals that occurred prior to 1 July 2002 are not counted in the rolling period. Subsection 52JB(4) VEA (for individuals) and subsection 52JD(6) VEA (for members of a couple) define the rolling period relevant to the $30,000 disposal of assets 'free area' rule.
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