Document ID: chunk:federal_register_of_legislation:C2014C00749:clause:14_6
Version: federal_register_of_legislation:C2014C00749
Segment Type: clause
Provision Reference: sch 14 cl 6
Character Range: 209751–211951

6                                                                               The difference between:
                                                                                (a) the *capital proceeds (as worked out under subsection (7)) of a *CGT event:
                                                                                (i) that happens, during the period referred to in subsection (6), to a *CGT asset that the company owned at that last alteration time and *acquired for not less than $10,000; and
                                                                                (ii) as a result of which the asset is *acquired by an entity that is an *associate of the company at the time of the CGT event; and
                                                                                (b) the market value of the asset at the time of the CGT event;
                                                                                but only if those capital proceeds are less than that market value

 (6) The period starts at that last alteration time and ends at the earlier of:
 (a) the time of the *realisation event referred to in paragraph (1)(a); or
 (b) the time immediately before the earliest time when the equity or debt is no longer, or is no longer part of:
 (i) if the company was a *loss company at that last alteration time—a relevant equity interest, or a relevant debt interest, that an entity has in the company; or
 (ii) otherwise—what would have been such an interest if the company had been a loss company at that last alteration time.
 (7) For the purposes of item 6 of the table in subsection (5), the *capital proceeds of the *CGT event are to be worked out:
 (a) under subsection 116‑20(1) only; and
 (b) disregarding subsection 103‑10(1) and paragraph 103‑10(2)(a) (about entitlement to receive money or property).

Notices under section 165‑115ZC not affected
 (8) To avoid doubt:
 (a) a notice need not be given under section 165‑115ZC because of this section; and
 (b) this section does not affect the requirements that apply to a notice that otherwise must be given under that section.

Part 2—Income Tax (Transitional Provisions) Act 1997