Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:1_15:p2
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 1 cl 15 (pt 2/4)
Character Range: 16177–18828

made *trading stock losses in the order in which the events that resulted in the capital losses, deductions or trading stock losses occurred; and
 (b) if 2 or more such events occurred at the same time, they are taken to have occurred in such order as the company determines.

Residual unrealised net loss

 (2) The company's residual unrealised net loss, at the time of an event (the relevant event) that resulted in the company making a *capital loss, becoming entitled to a deduction or making a *trading stock loss, in respect of an asset, is the amount worked out using the following formula:
where:

previous capital losses, deductions or trading stock losses means capital losses that the company made, deductions to which the company became entitled or trading stock losses that the company made as a result of events earlier than the relevant event in respect of other assets that the company owned at the changeover time.

unrealised net loss means the company's unrealised net loss at the last changeover time that occurred before the relevant event.

Note: For changeover time see sections 165‑115C and 165‑115D.

165‑115C  Changeover time—change in ownership of company

 (1) A time (the test time) is a changeover time in respect of a company if:
 (a) persons who had *more than 50% of the voting power in the company at the reference time do not have more than 50% of that voting power immediately after the test time; or
 (b) persons who had rights to *more than 50% of the company's dividends at the reference time do not have rights to more than 50% of those dividends immediately after the test time; or
 (c) persons who had rights to *more than 50% of the company's capital distributions at the reference time do not have rights to more than 50% of those distributions immediately after the test time.

Note 1: See section 165‑150 to work out who had more than 50% of the voting power in the company.

Note 2: See section 165‑155 to work out who had rights to more than 50% of the company's dividends.

Note 3: See section 165‑160 to work out who had rights to more than 50% of the company's capital distributions.

Note 4: For reference time see subsection 166‑115A(2A).

 (2) To work out whether paragraph (1)(a), (b) or (c) applied at a particular time, apply the primary test unless subsection (3) requires the alternative test to be applied.

Note: For the primary test see subsections 165‑150(1), 165‑155(1) and 165‑160(1).

 (3) Apply the alternative test if one or more other companies beneficially owned *shares or interests in shares in the company at the reference time.

Note: For the alternative test see subsections