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
5 Subsection 711-70(5)
Repeal the link note, substitute:
Modification if leaving entity is a trust
(6) A*membership interest in a trust that is one of the multiple exit entities is not taken into account under this section unless the membership interest is either a unit or an interest in the trust.
[The next Division is Division 713.]