Document ID: chunk:federal_register_of_legislation:C2025C00180:section:8w:p2
Version: federal_register_of_legislation:C2025C00180
Segment Type: section
Provision Reference: s 8W (pt 2/3)
Character Range: 165684–168232

to in subsection 705‑315(2) of that Act joined the group until the start of the head company's income year in which the Commissioner became aware of the errors mentioned in section 705‑315 of that Act;
less:
 (b) the head company's deductions under Division 40 (except under Subdivision 40‑F, 40‑G, 40‑H or 40‑I) or Subdivision 328‑D of the Income Tax Assessment Act 1997 for those assets for all income years before the earliest income year for which the Commissioner could amend the head company's assessment to correct any of the errors.
original reset cost base asset setting amount means the tax cost setting amount, worked out under Division 705 of the Income Tax Assessment Act 1997, for all reset cost base assets that the subsidiary member held at the time it joined the group, other than assets that the head company no longer held at the start of the earliest income year for which the Commissioner could amend the head company's assessment to correct any of the errors.
tax on capital gain means the product of:
 (a) the capital gain (within the meaning of the Income Tax Assessment Act 1997) that the head company makes as a result of CGT event L6 happening as mentioned in section 104‑525 of that Act; and
 (b) the corporate tax rate (within the meaning of that Act) in respect of taxable income for the income year in which that CGT event happens.
 (2) Where:
 (a) a person (in this subsection referred to as the convicted person) is convicted before a court of an offence against section 8T or 8U in relation to an act or omission; and
 (b) the court is satisfied that the purpose of, or one of the purposes of, the act or omission was to facilitate the avoidance of an amount of a tax liability of the convicted person or another person;
the court may, in addition to imposing a penalty on the convicted person, order the convicted person to pay to the Commissioner an amount not exceeding:
 (c) in a case where the offence is an offence to which subsection 8V(2) applies—3 times that amount; or
 (d) in any other case—double that amount.
 (2A) If:
 (a) a person (the convicted person) is convicted before a court of:
 (i) an offence against subsection 8K(1) or (1B) or section 8N, or against Division 136 or 137 of the Criminal Code in relation to a taxation law, in relation to a statement made to a taxation officer; or
 (ii) an offence against subsection 8L(1) or (1A) or section 8Q in relation to the keeping of any records; and
 (b) the offence relates to the Product Grants and Benefits Administration Act 2000; and
 (c) the