Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 715 - Interactions between this Part and other areas of the income tax law  

Subdivision 715-A - Treatment of unrealised losses existing when ownership or control of a company changes before or during consolidation  

Effect on Subdivision 165-CC of a company becoming a member of a consolidated group

SECTION 715-35   715-35   Meaning of final RUNL  


A company ' s final RUNL at a particular time (the test time ) is the amount that would have been the company ' s * residual unrealised net loss at the time of:


(a) if no event that subsection 165-115BB(2) refers to as a relevant event actually happens at the test time - a notional event of that kind happening at the test time; or


(b) otherwise - a notional event of that kind that happens at the test time, and that the company determines under paragraph 165-115BB(1)(b) to have happened later than each event that actually happened at that time.

Note:

This Subdivision reduces a company ' s final RUNL as amounts of it are applied for various purposes.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.