Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_14:p28
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 14 (pt 28/40)
Character Range: 102595–105346

have been *acquired by it before 20 September 1985 under Subdivision 126‑B.

Acquisition rule

 (8) The recipient company is taken to have *acquired the roll‑over asset at the break‑up time.

Cost base adjustment

 (9) The first element of the recipient company's *cost base and *reduced cost base of the roll‑over asset (just after the break‑up time) is its market value (at the break‑up time).

104‑180  Sub‑group break‑up

 (1) The condition in subsection (2) must have been satisfied at each time when there is a roll‑over within the *wholly‑owned group under Subdivision 126‑B for a *CGT event happening in relation to the roll‑over asset.

 (2) The originating company and the recipient company must have been members of a group of 2 or more companies (the sub‑group) within the *wholly‑owned group (excluding the ultimate holding company) for which one of these is satisfied:

 (a) if the sub‑group consists of 2 companies, either the recipient company is a 100% subsidiary of the other company (the holding company), or the other company is a 100% subsidiary of the recipient company (also the holding company);

 (b) if the sub‑group consists of 3 or more companies:

 (i) the recipient company is a 100% subsidiary of one of those other companies (also the holding company) and so are the other companies (except the holding company) in the sub‑group; or

 (ii) each of the companies in the sub‑group (except the recipient company) is a 100% subsidiary of the recipient company (also the holding company).

 (3) If the roll‑over event was the last in a series of *CGT events involving the roll‑over asset and there was a roll‑over within the *wholly‑owned group under Subdivision 126‑B for all the events, each company that was the originating company or the recipient company for the purposes of that Subdivision for one of those roll‑overs must have been members of the sub‑group at the time of each of the roll‑overs.

 (4) The conditions in subsection (5) or (6) must be satisfied just after the break‑up time.

 (5) If the recipient company was the holding company of the sub‑group, none of its *shares can be owned by:

 (a) the ultimate holding company; or

 (b) a company that is a *100% subsidiary of the ultimate holding company just after the break‑up time.

 (6) If the recipient company was not the holding company of the sub‑group, no *shares in it or in the holding company can be owned by:

 (a) the ultimate holding company; or

 (b) a company that is a *100% subsidiary of the ultimate holding company just after the break‑up time.

Subdivision 104‑K—Other CGT events

Table of sections

104‑205 Partial realisation of intellectual property: CGT event K1
104‑210 Bankrupt pays amount in relation to