Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-90
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CONSOLIDATED GROUPS
This Part applies separately to each asset and liability even if, in accordance with * accounting principles, they are required to be set off against each other.
This section has effect subject to section 705-59 .
Division 705
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Tax cost setting amount for assets where entities become subsidiary members of consolidated groups
Subdivision 705-A
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Basic case: a single entity joining an existing consolidated group
Tax cost setting amount for assets that joining entity brings into joined group
SECTION 705-58
Assets and liabilities not set off against each other
705-58(1)
This Part applies separately to each asset and liability even if, in accordance with * accounting principles, they are required to be set off against each other.
705-58(2)
This section has effect subject to section 705-59 .
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