Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p9
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 9/66)
Character Range: 6348184–6350748

the same purpose.

716‑850  Grossing up threshold amounts for periods of less than 365 days
 (1) Under some provisions of this Act, something that is relevant to working out:
 (a) an entity's taxable income (if any); or
 (b) the income tax (if any) payable on an entity's taxable income; or
 (c) an entity's loss (if any) of a particular *sort;
is determined on the basis of a comparison between an amount worked out for an income year, or an amount *derived from 2 or more such amounts, and another amount.
Note: The other amount assumes an income year of 365 days.
 (2) This section affects how such a provision (the threshold provision) operates for the purposes of subsection 701‑30(3), which requires each thing covered by paragraph (1)(a), (b) or (c) of this section to be worked out for an entity for a non‑membership period (under section 701‑30) during an income year.
Note: A non‑membership period is a period (of less than an income year) when the entity is not a subsidiary member of any consolidated group.
 (3) An amount that would otherwise be worked out for the non‑membership period, for the purposes of the comparison under the threshold provision, is instead:
 (a) to be worked out by reference to the period (the reference period) starting at the start of the income year and ending at the end of the non‑membership period; and
 (b) then to be grossed up by multiplying it by this fraction:

716‑855  Working out the cost base or reduced cost base of a pre‑CGT asset after certain roll‑overs
  If:
 (a) it is necessary for the purposes of this Part to work out the *cost base or *reduced cost base of a *pre‑CGT asset owned at a particular time; and
 (b) before that time:
 (i) the owner was the recipient company involved in a roll‑over under Subdivision 126‑B in relation to a *CGT event that happened in relation to the CGT asset; or
 (ii) the owner was the transferee in relation to a disposal of the CGT asset to which former section 160ZZO of the Income Tax Assessment Act 1936 applied;
the cost base or reduced cost base is worked out as if, in applying Subdivision 126‑B or former section 160ZZO in relation to the CGT event or the disposal, the provisions of that Subdivision or section applying to CGT assets *acquired on or after 20 September 1985 replaced those that applied to CGT assets acquired on or before that date.
Note: The effect is that the owner's cost base or reduced cost base will be the same as that of the originating company or transferor, as is the case with post‑CGT assets.

716‑860  CGT event straddling joining