A capital gains tax relief given to you when you sell assets used in your business and purchase new assets. It enables you to defer paying capital gains tax on the proceeds that you have reinvested until the replacement assets are sold. Only applies to certain assets including land and buildings, fixed plant and fixed machinery, and goodwill.
A tax concession, which allows investors and businesses to defer the payment of Capital Gains Tax. For example, if proceeds from the sale of a fixed asset are reinvested, Capital Gains Taxs not payable until the new asset is sold.