Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-90
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CONSOLIDATED GROUPS
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.
Division 715
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Interactions between this Part and other areas of the income tax law
Subdivision 715-A
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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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