Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 152.15

    You satisfy the maximum net asset value test if, just before the * CGT event, the sum of the following amounts does not exceed $6,000,000:

  (a)   the * net value of the CGT assets of yours;

  (b)   the net value of the CGT assets of any entities * connected with you;

  (c)   the net value of the CGT assets of any * affiliates of yours or entities connected with your affiliates (not counting any assets already counted under paragraph   (b)).

Note 1:   Some assets are not included in the definition of net value of the CGT assets : see subsections   152 - 20(2), (3) and (4).

Note 2:   The meaning of connected with is affected by section   152 - 78.