Document ID: chunk:federal_register_of_legislation:C2011C00698:clause:5_20
Version: federal_register_of_legislation:C2011C00698
Segment Type: clause
Provision Reference: sch 5 cl 20
Character Range: 77711–78215

20  Subsections 705‑125(2) and (3)
Repeal the subsections, substitute:

How to work out pre‑CGT proportion

 (2) The pre‑CGT proportion is the amount worked out by dividing:
 (a) the sum of the *market value of each *membership interest in the joining entity that is:
 (i) held by a *member of the group at the joining time; and
 (ii) is a *pre‑CGT asset;
by:
 (b) the sum of the market value of each membership interest in the joining entity that is held by a member of the group at the joining time.