Income Tax Assessment Act 1997



Division 715 - Interactions between this Part and other areas of the income tax law  

Subdivision 715-A - Treatment of unrealised losses existing when ownership or control of a company changes before or during consolidation  

Effect on Subdivision 165-CC of a company becoming a member of a consolidated group

SECTION 715-30  

715-30   Meaning of 165-CC tagged asset  

A * CGT asset is a 165-CC tagged asset of a company at a particular time if, and only if:

(a) that time is at or after the most recent * changeover time (if any) for the company; and

(b) at that changeover time, the company had an unrealised net loss under section 165-115E ; and

(c) the asset is covered by subsection 165-115A(1A) as applying to that changeover time; and

(d) the company would not, at that changeover time, satisfy the maximum net asset value test under section 152-15 ; and

(e) if the company has chosen under subsection 165-115A(1B) in relation to that changeover time - the company * acquired the asset for $10,000 or more.

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