Document ID: chunk:federal_register_of_legislation:C2013C00581:clause:2_14:p2
Version: federal_register_of_legislation:C2013C00581
Segment Type: clause
Provision Reference: sch 2 cl 14 (pt 2/2)
Character Range: 54159–56054

152‑10(1A) or (1B); and
 (b) the deemed entity is not (apart from this section) an affiliate of, or connected with, the test entity.
 (3) If:
 (a) the entity that owns the *CGT asset referred to in subsection 152‑10(1B) is a partner in 2 or more partnerships; and
 (b) the asset is:
 (i) used, or held ready for use, in the course of carrying on a *business that is carried on by at least 2 of those partnerships; or
 (ii) inherently connected with businesses that are carried on by at least 2 of those partnerships;
then, each partnership referred to in paragraph (b) that is not (apart from this section) *connected with the test entity is taken to be connected with the test entity.

152‑49  Businesses that are winding up
 (1) This section applies to an entity in an income year (the CGT event year) if:
 (a) a *business that the entity previously carried on (including in partnership) is being wound up in that year; and
 (b) either:
 (i) the asset was used, or held ready for use, in the course of carrying on the business at a time in the income year in which the business stopped being carried on; or
 (ii) if the asset is an intangible asset—the asset was inherently connected with the business that was carried on at a time in the income year in which the business stopped being carried on.
 (2) For the purposes of paragraphs 152‑40(1)(a) and (b) as they apply for the purposes of paragraphs 152‑10(1A)(d) and (1B)(e):
 (a) the entity is taken to carry on the *business at a time in the CGT event year; and
 (b) either:
 (i) the *CGT asset is taken to be used, or held ready for use, in the course of carrying on the business at that time; or
 (ii) if the asset is an intangible asset—the CGT asset is taken to be inherently connected with the business at that time.
Note: The entity might also be taken to be a small business entity in the CGT event year (see subsection 328‑110(5)).