Document ID: chunk:federal_register_of_legislation:C2010C00622:clause:1_22
Version: federal_register_of_legislation:C2010C00622
Segment Type: clause
Provision Reference: sch 1 cl 22
Character Range: 15721–16445

22  Subsection 445(2)
Repeal the subsection, substitute:

 (2) In paragraph (1)(a):

gains includes capital gains the company would have made in the statutory accounting period because of CGT event J1, if the assumptions in paragraphs 383(a) to (c) applied.

losses includes capital losses the company would have made in the statutory accounting period because of CGT event J1, if the assumptions in paragraphs 383(a) to (c) applied.

Note 1: CGT event J1 is about companies ceasing to be related after a roll‑over.

Note 2: Basically, the effect of the assumptions in paragraphs 383(a) to (c) is that the company concerned is taken to be a taxpayer and a resident and CGT event J1 may therefore be taken to have happened.