New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 (117 of 2002)

Schedule 5   Consolidation: allocable cost amount for a joining trust

Part 1   New provisions inserted in the Income Tax Assessment Act 1997

4   At the end of section 711-65


Modification if leaving entity is a trust

(8) If the leaving entity is a trust, a*membership interest in it is not taken into account under this section unless the membership interest is either a unit or an interest in the trust.