Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:4_4
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 4 cl 4
Character Range: 53466–54513

4  At the end of Division 104
Add:

104‑525  Error in calculation of tax cost setting amount for joining entity's assets: CGT event L6

 (1) CGT event L6 happens if:
 (a) you are the *head company of a *consolidated group; and
 (b) the conditions in section 705‑315 (about errors in tax cost setting amounts) are satisfied for a *subsidiary member of the group; and
 (c) you have a *net overstated amount or a *net understated amount for the subsidiary member.

 (2) The time of the event is the start of the income year in which the Commissioner becomes aware of the errors.

 (3) You work out whether you have a net overstated amount or net understated amount using this table:

Meaning of net overstated amount and net understated amount
Item                                                         In this situation:                                                                                                                                                                                                            There is this result: