Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:1_22:p2
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 1 cl 22 (pt 2/2)
Character Range: 41184–43399

roll‑over, or the transferor in relation to the section 160ZZO roll‑over, was a foreign resident; and
 (c) the recipient company in relation to the Subdivision 126‑B roll‑over, or the transferee in relation to the section 160ZZO roll‑over, was an Australian resident and was not the entity that became the *head company of the group; and
 (d) between the Subdivision 126‑B roll‑over, or the section 160ZZO roll‑over, and the linked entity joining time, no other CGT event happened in relation to the roll‑over asset for which there was not a Subdivision 126‑B roll‑over or a section 160ZZO roll‑over; and
 (e) the roll‑over asset is a *membership interest in a linked entity, other than one that is held at that time by the entity that becomes the head company of the group;
then, subject to subsection (5), there is under section 705‑93 a step 3A amount for the purpose of working out the group's *allocable cost amount for the linked entity (the subject entity) that holds the roll‑over asset at the linked entity joining time.

What the step 3A amount is

 (4) The step 3A amount is:
 (a) if, as a result of the Subdivision 126‑B roll‑over mentioned in subparagraph (3)(a)(i), or the section 160ZZO roll‑over mentioned in subparagraph (3)(a)(ii), a *capital loss of the originating company was disregarded or a capital loss of the transferor was not incurred—an increase amount equal to the capital loss; or
 (b) if, as a result of the Subdivision 126‑B roll‑over mentioned in subparagraph (3)(a)(i), or the section 160ZZO roll‑over mentioned in subparagraph (3)(a)(ii), a *capital gain of the originating company was disregarded or a capital gain of the transferor did not accrue—a reduction amount equal to the capital gain.

Apportionment of step 3A amount among first level interposed entities

 (5) If at the linked entity joining time one or more linked entities, in which the *head company holds *membership interests, are interposed between the head company and the subject entity, then the step 3A amount is apportioned among those entities and the subject entity in the same way as a step 3A amount is apportioned under subsection (2).

Part 5—Technical corrections

Income Tax Assessment Act 1997