Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p7
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 7/18)
Character Range: 2817517–2820191

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.

Additional basic condition for CGT events involving certain rights or interests in relation to the income or capital of a partnership
 (2C) If the *CGT event involves the creation, transfer, variation or cessation of a right or interest that would entitle an entity to:
 (a) an amount of the income or capital of a partnership; or
 (b) an amount calculated by reference to a partner's entitlement to an amount of income or capital of a partnership;
it is an additional basic condition that the right or interest is a *membership interest of the entity in the partnership:
 (c) immediately after the CGT event happens; or
 (d) if the CGT event involved the cessation of the right or interest—immediately before the CGT event happens.

Extra conditions for some concessions
 (3) In addition to the basic conditions in this section, some of the concessions in this Division have extra conditions that must be satisfied for the concession to be available. These extra conditions are set out in the relevant Subdivisions.

Special rules for certain CGT events
 (4) Subdivisions 152‑B and 152‑C do not apply to *CGT events J2, J5 and J6. In addition, Subdivision 152‑E does not apply to CGT events J5 and J6.
Note 1: Those CGT events are about previous applications of the roll‑over in Subdivision 152‑E.
Note 2: This Subdivision does not apply to CGT events J5 and J6 in relation to the retirement exemption (see subsection 152‑305(4)).

152‑12  Special conditions for CGT event D1
 (1) Paragraphs 152‑10(1)(a) and (d) do not apply in the case of *CGT event D1.
 (2) Instead, it is a basic