Document ID: chunk:federal_register_of_legislation:C2007A00055:clause:1_22
Version: federal_register_of_legislation:C2007A00055
Segment Type: clause
Provision Reference: sch 1 cl 22
Character Range: 15949–16638

22  Section 152‑15
Repeal the section, substitute:

152‑15  Maximum net asset value test

  You satisfy the maximum net asset value test if, just before the *CGT event, the sum of the following amounts does not exceed $5,000,000:
 (a) the *net value of the CGT assets of yours;
 (b) the net value of the CGT assets of any entities *connected with you;
 (c) the net value of the CGT assets of any *small business CGT affiliates of yours or entities connected with your small business CGT affiliates (not counting any assets already counted under paragraph (b)).

Note: Some assets are not included in the definition of net value of the CGT assets: see subsections 152‑20(2), (3) and (4).