Document ID: chunk:federal_register_of_legislation:C2024C00267:section:3:p9
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 3 (pt 9/17)
Character Range: 585006–587911

were your *trading stock at the time mentioned in paragraph 615‑45(c), you are taken to have paid:

615‑20  Modifications—revenue assets
  Substitute the following for subsection 615‑55(2) of that Act:
 (2) For the purpose of calculating any profit or loss on a future disposal, cessation of ownership, or other realisation of a *share in the interposed company that you acquired in return for those of your shares or units in the original entity that were *revenue assets at the time mentioned in paragraph 615‑45(c), you are taken to have paid:

Division 620—Assets of wound‑up corporation passing to corporation with not significantly different ownership

Table of Subdivisions
620‑A Corporations covered by Subdivision 124‑I

Subdivision 620‑A—Corporations covered by Subdivision 124‑I

Table of sections
620‑10 Application of Subdivision 620‑A of the Income Tax Assessment Act 1997

620‑10  Application of Subdivision 620‑A of the Income Tax Assessment Act 1997
  Subdivision 620‑A of the Income Tax Assessment Act 1997 applies in relation to the cessation of existence of bodies corporate occurring after 7.30 pm (by legal time in the Australian Capital Territory) on 11 May 2010.

Part 3‑90—Consolidated groups

Division 700—Application of Part 3‑90 of Income Tax Assessment Act 1997

Table of sections
700‑1 Application of Part 3‑90 of Income Tax Assessment Act 1997

700‑1  Application of Part 3‑90 of Income Tax Assessment Act 1997
 (1) Part 3‑90 of the Income Tax Assessment Act 1997, as inserted by the New Business Tax System (Consolidation) Act (No. 1) 2002 and amended by:
 (a) the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002; and
 (b) the New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002; and
 (c) the New Business Tax System (Consolidation and Other Measures) Act 2003; and
 (d) the Taxation Laws Amendment Act (No. 6) 2003;
applies on and after 1 July 2002.
 (2) Section 713‑50 of the Income Tax Assessment Act 1997 (about factors to consider in determining destination of distribution by non‑fixed trust) applies for the purposes of this Part in the same way as it applies for the purposes of Part 3‑90 of that Act.

Division 701—Modified application of provisions of Income Tax Assessment Act 1997 for certain consolidated groups formed in 2002‑3 and 2003‑4 financial years

Table of Subdivisions
701‑A Preliminary
701‑B Modified application of provisions

Subdivision 701‑A—Preliminary

Table of sections
701‑1 Transitional group and transitional entity
701‑5 Chosen transitional entity
701‑7 Working out the cost base or reduced cost base of a pre‑CGT asset after certain roll‑overs
701‑10 Interpretation

701‑1  Transitional group and transitional entity

Group formed on 1 July 2002
 (1) If a consolidated group came into existence on 1 July 2002:
 (a) the group is a transitional group; and
 (b) each