Commonwealth Consolidated Acts Commonwealth Consolidated ActsWhen there is a step 3A amount
(1) For the purposes of step 3A in the table in section 705 - 60, there is a step 3A amount if:
(a) before the joining time:
(i) there was a roll - over under Subdivision 126 - B (a Subdivision 126 - B roll - over ) in relation to a * CGT event that happened in relation to an asset (the roll - over asset ); or
(ii) former section 160ZZO of the Income Tax Assessment Act 1936 applied in relation to a disposal (a section 160ZZO roll - over ) of an asset (also the roll - over asset ); and
(aa) at the joining time, as a result of the Subdivision 126 - B roll - over or the section 160ZZO roll - over, the roll - over asset has:
(i) a * deferred roll - over gain; or
(ii) a * deferred roll - over loss; and
(b) the originating company in relation to the Subdivision 126 - B roll - over, or the transferor in relation to the section 160ZZO roll - over:
(i) was a foreign resident; or
(ii) is the * head company in relation to the joined group; and
(c) the recipient company in relation to the Subdivision 126 - B roll - over, or the transferee in relation to the section 160ZZO roll - over:
(i) was an Australian resident; and
(ii) is a * spread entity in relation to the joined group; and
(d) if the recipient company was previously a * subsidiary member of another consolidated group--the conditions in section 104 - 182 were not satisfied at any time in relation to the other group between the Subdivision 126 - B roll - over, or the section 160ZZO roll - over, and the joining time; and
(e) the roll - over asset is not a * pre - CGT asset at the joining time; and
(f) the roll - over asset becomes that of the head company of the joined group because subsection 701 - 1(1) (the single entity rule) applies when the joining entity becomes a * subsidiary member of the group.
(2) The step 3A amount is the amount of the * deferred roll - over gain or the * deferred roll - over loss mentioned in paragraph (1)(aa).