Income Tax Assessment Act 1997
View history note
Hide history noteCGT event L2 happens if:
(a) an entity becomes a *subsidiary member of a *consolidated group or a *MEC group; and
(b) in working out the group ' s *allocable cost amount for the entity, the amount remaining after applying step 3A of the table in section 705-60 is negative.
104-505(2)
The time of the event is just after the entity becomes a *subsidiary member of the group.
104-505(3)
For the head company core purposes mentioned in subsection 701-1(2) , the *head company makes a capital gain equal to the amount remaining.
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