Document ID: chunk:federal_register_of_legislation:C2018A00124:clause:2_2:p2
Version: federal_register_of_legislation:C2018A00124
Segment Type: clause
Provision Reference: sch 2 cl 2 (pt 2/2)
Character Range: 8490–9843

of this subsection, all of the assets of the object entity at the test time included all of the assets of each later entity at the test time; and
 (e) for the purposes of paragraph 152‑40(3)(b), the *market value at the test time of an asset held by a later entity were the product of:
 (i) the asset's market value, apart from this paragraph, at the test time; and
 (ii) the object entity's *small business participation percentage in the later entity at the test time.
 (2B) For the purposes of paragraph (2A)(c), this subsection covers a later entity if:
 (a) at the test time:
 (i) your *small business participation percentage in the later entity is at least 20%; or
 (ii) you are a *CGT concession stakeholder of the later entity; and
 (b) either:
 (i) the later entity would be a *CGT small business entity for the income year that includes the test time; or
 (ii) the later entity would satisfy the maximum net asset value test (see section 152‑15) for a notional CGT event taken to have happened at the test time;
  if the following assumptions were made:
 (iii) the only *CGT assets or *annual turnovers considered were those of the later entity and of the entities referred to in subparagraph (2)(c)(iii);
 (iv) each reference in section 328‑125 to 40% were a reference to 20%;
 (v) no determination under subsection 328‑125(6) were in force.