Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:21_3:p2
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 21 cl 3 (pt 2/2)
Character Range: 296333–296967

amount that results.

104‑520  Where amount remaining after step 4 of leaving allocable cost amount is negative: CGT event L5

 (1) CGT event L5 happens if:
 (a) an entity ceases to be a *subsidiary member of a *consolidated group; and
 (b) in working out the group's *allocable cost amount for the entity, the amount remaining after applying step 4 of the table in section 711‑20 is negative.

 (2) The time of the event is when the entity ceases to be 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.