Consolidations

L1 Reduction under section 705-57 in tax cost setting amount of assets of entity becoming subsidiary member of consolidated group

just after entity becomes subsidiary member

no capital gain

amount of reduction

L2 Amount remaining after step 3A etc of 'joining allocable cost amount is negative'

just after entity becomes subsidiary member

amount remaining

no capital loss

L3 Tax cost setting amounts for retained cost base assets exceed joining allocable cost amount

just after entity becomes subsidiary member

amount of excess

no capital loss

L4 No reset cost base assets against which to apply excess of net allocable cost amount on joining

just after entity becomes subsidiary member

no capital gain

amount of excess

L5 Amount remaining after step 4 of 'leaving allocable cost amount is negative'

when entity ceases to be subsidiary member

amount remaining

no capital loss

L6 Error in calculation of tax cost setting amount for joining entity's assets

start of the income year when the Commissioner becomes aware of the errors

the net overstated amount resulting from the errors, or a portion of that amount

the net understated amount resulting from the errors, or a portion of that amount

L7 Discharged amount of liability differs from amount for allocable cost amount purposes

start of the income year in which the liability is realised

your allocable cost amount less what it would have been had you used the correct amount for liability

what your allocable cost amount would have been had you used the correct amount for the liability less your allocable cost amount

L8 Reduction in tax cost setting amount for reset cost base assets on joining cannot be allocated

just after entity becomes subsidiary member

no capital gain

amount of reduction that cannot be allocated