Income Tax Assessment Act 1997
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Hide history noteSECTION 126-75 Originating company is a CFC 126-75(1)
This section applies if:
(a) there is a roll-over for the trigger event under this Subdivision; and
(b) the originating company was a *CFC at the time of the trigger event; and
(c) this Subdivision is relevant to the calculation of the *attributable income of the originating company under Division 7 of Part X of the Income Tax Assessment Act 1936 because (ignoring the residency assumptions in that Division) the roll-over asset was not *taxable Australian property for the originating company; and
(d) a subsequent *CGT event happens in relation to the roll-over asset.
126-75(2)
In working out the amount of any *capital gain or *capital loss the recipient company (or a subsequent owner of the roll-over asset if there is a series of roll-overs until there is no roll-over) makes when a subsequent *CGT event happens in relation to the asset, the modifications specified in Division 7 of Part X of the Income Tax Assessment Act 1936 apply.
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