Commonwealth Consolidated Acts Commonwealth Consolidated ActsSections 715 - 85 to 715 - 110 apply if, at a particular time (the leaving time ), an entity (the leaving entity ) ceases to be a * subsidiary member of a * consolidated group.
Note 1: If a changeover time happened to the head company at or after the group came into existence and before the leaving time, Subdivision 165 - CC does not apply to the head company at and after the leaving time, in respect of assets that leave with the leaving entity, in relation to the changeover time.
This is because the head company can no longer make a capital loss, or become entitled to a deduction, in respect of a CGT event happening to any of those assets.
Note 2: If, just before the leaving time, the head company had a
loss denial pool, see section 715 - 120.