Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 715.30

Meaning of 165 - CC tagged asset

    A * CGT asset is a 165 - CC tagged asset of a company at a particular time if, and only if:

  (a)   that time is at or after the most recent * changeover time (if any) for the company; and

  (b)   at that changeover time, the company had an unrealised net loss under section   165 - 115E; and

  (c)   the asset is covered by subsection   165 - 115A(1A) as applying to that changeover time; and

  (d)   the company would not, at that changeover time, satisfy the maximum net asset value test under section   152 - 15; and

  (e)   if the company has chosen under subsection   165 - 115A(1B) in relation to that changeover time--the company * acquired the asset for $10,000 or more.


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