Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:1_64
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 1 cl 64
Character Range: 108084–109785

64  Subsection 170‑280(1)
Repeal the subsection, substitute:

 (1) This section applies if, as a result of the occurrence of a new event in respect of a *CGT asset, the originating company is taken by subsection 170‑275(1) to have made a *capital loss or to be entitled to a deduction and, within 4 years after the occurrence of the new event, one of the following events (further events) occurs:
 (a) the asset or a greater than 50% interest in it is *acquired by the originating company or by an entity that, at the time of the acquisition, is:
 (i) a company that is a member of the *linked group of which the originating company is a member; or
 (ii) a connected entity of the originating company; or
 (iii) an *associate of such a connected entity;
 (b) a company that owns the asset or a greater than 50% interest in it becomes a member of the linked group of which the originating company is a member;
 (c) the originating company becomes a member of a linked group another member of which owns the asset or a greater than 50% interest in it;
 (d) an entity that owns the asset or a greater than 50% interest in it becomes:
 (i) a connected entity of the originating company; or
 (ii) an associate of such a connected entity.

 (1A) If the originating company has information from which it would be reasonable to conclude that, if the *CGT asset involved were owned by the originating company immediately after the further event, *majority underlying interests in the asset immediately after the further event would not have been had by *ultimate owners who had majority underlying interests in the asset immediately before the deferral event, the further event is taken not to have occurred.