Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 5 Consolidation

Repeal the subsections, substitute:

How to work out pre-CGT proportion

(2) The pre-CGT proportion is the amount worked out by dividing:

(a) the sum of the *market value of each *membership interest in the joining entity that is:

(i) held by a *member of the group at the joining time; and

(ii) is a *pre-CGT asset;

by:

(b) the sum of the market value of each membership interest in the joining entity that is held by a member of the group at the joining time.