Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:1_30:p2
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 1 cl 30 (pt 2/3)
Character Range: 88929–91589

of the *listed public company as between the start of the test period and the *test time;
the following paragraphs have effect:
 (c) the test time is taken to have been a changeover time or an alteration time, as the case may be, in respect of the company; but
 (d) no other time during the test period is a changeover time or an alteration time, as the case may be, in respect of the company.

166‑85  How Subdivision 165‑CC or 165‑CD applies to a 100% subsidiary of a listed public company

 (1) This Subdivision modifies the way in which:
 (a) Subdivision 165‑CC applies in determining whether a changeover time (within the meaning of section 165‑115C) has occurred; or
 (b) Subdivision 165‑CD applies in determining whether an alteration time (within the meaning of section 165‑115L) has occurred;
in relation to a company (the subsidiary) that is a subsidiary of a *listed public company (the holding company) during the period (the test period) starting at the time that is the reference time for the purposes of Subdivision 165‑CC or section 165‑115L, as the case may be, and ending at a *test time.

Note 1: Subdivision 165‑CC is about the conditions a company that has an unrealised net loss must satisfy before it can have capital losses taken into account or deduct revenue losses.

Note 2: Subdivision 165‑CD provides for reductions in cost bases and certain other reductions after alterations have occurred in the ownership or control of a loss company.

 (2) Each of the following times is a test time:
 (a) the time immediately after an *abnormal trading of *shares in the holding company or the subsidiary occurs;
 (b) the end of the income year in which the relevant reference time occurred;
 (c) the end of a later income year.

 (3) If:
 (a) the subsidiary was a *100% subsidiary of the holding company throughout the *test period; and
 (b) the holding company was a *listed public company throughout the test period; and
 (c) there is *substantial continuity of ownership of the subsidiary as between the start of the test period and the *test time;
a changeover time or an alteration time is taken not to have occurred in respect of the subsidiary during the test period.

Note: See section 166‑145 to work out whether there is substantial continuity of ownership.

 (4) If:
 (a) the subsidiary was a *100% subsidiary of the holding company throughout the *test period; and
 (b) the holding company was a *listed public company throughout the test period; and
 (c) there is no *substantial continuity of ownership of the subsidiary as between the start of the test period and the *test time;
the following paragraphs have effect:
 (d) the