Document ID: chunk:federal_register_of_legislation:C2014A00110:clause:3_5
Version: federal_register_of_legislation:C2014A00110
Segment Type: clause
Provision Reference: sch 3 cl 5
Character Range: 58841–59402

5  Application of amendment
Section 855‑32 of the Income Tax Assessment Act 1997 (as inserted by this Part) applies in relation to a CGT event if:
 (a) in a case where the 2 entities that are parties to the arrangement were members of the same consolidated group or MEC group at the time the asset was created—the CGT event happens after 7.30 pm, by legal time in the Australian Capital Territory, on 14 May 2013; and
 (b) otherwise—the CGT event happens on or after 13 May 2014.

Part 2—Assets used by permanent establishments

Income Tax Assessment Act 1997