INCOME TAX ASSESSMENT ACT 1997 - SECT 149.70 Effects if asset no longer has same majority underlying ownership
INCOME TAX ASSESSMENT ACT 1997 - SECT 149.70
Effects if asset no longer has same majority underlying ownership(1) The asset stops being a * pre - CGT asset if the condition in subsection 149 - 60(1) is not satisfied.
(2) Also, Part 3 - 1 and this Part (except this Division)
apply to the asset as if the entity had acquired it at the end of the *
test day (as determined under subsection 149 - 55(4)).