Document ID: chunk:federal_register_of_legislation:C2010C00622:clause:1_7
Version: federal_register_of_legislation:C2010C00622
Segment Type: clause
Provision Reference: sch 1 cl 7
Character Range: 9663–10426

7  At the end of section 445
Add:

 (2) In paragraph (1)(a):

gains includes capital gains that would have accrued to the company in the statutory accounting period because of section 160ZZOA, if the assumptions in paragraphs 383(a) to (c) applied.

losses includes capital losses that the company would have incurred in the statutory accounting period because of section 160ZZOA, if the assumptions in paragraphs 383(a) to (c) applied.

Note 1: Section 160ZZOA is about companies ceasing to be related after a roll‑over.

Note 2: Basically, the effect of the assumptions in paragraphs 383(a) to (c) is that the company concerned is taken to be a taxpayer and a resident period and may therefore be taken to have disposed of an asset because of section 160ZZOA.