INCOME TAX ASSESSMENT ACT 1997 - SECT 104.505 Where pre - formation intra - group roll - over reduction results in negative allocable cost amount: CGT event L2
INCOME TAX ASSESSMENT ACT 1997 - SECT 104.505
Where pre - formation intra - group roll - over reduction results in negative allocable cost amount: CGT event L2(a) an entity becomes a * subsidiary member of a * consolidated group or a * MEC group; and
(b) in working out the group's * allocable cost amount for the entity, the amount remaining after applying step 3A of the table in section 705 - 60 is negative.
(2) The time of the event is just after the entity becomes a * subsidiary member of the group.
(3) For the head company core purposes mentioned in subsection
701 - 1(2), the * head company makes a capital gain equal to the amount
remaining .