SPECIALIST LIABILITY RULES
CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS
Income tax consequences of changing ownership or control of a company
Working out the net capital gain and the net capital loss for the income year of the change
When a company must work out its net capital gain and net capital loss under this Subdivision
On a change of ownership, or of control of voting power, unless the company satisfies the business continuity test
A company must calculate its *net capital gain and *net capital loss for the income year under this Subdivision if:
it must calculate its taxable income and *tax loss for the income year under Subdivision
may affect the application of Subdivision
it would be required to calculate them under that Subdivision but for subsection
(about cases where that Subdivision would make no difference to the taxable income).
In the case of a widely held or eligible Division
modifies how this Subdivision applies, unless the company chooses otherwise.