Treasury Laws Amendment (Income Tax Consolidation Integrity) Act 2018 (14 of 2018)

Schedule 1   Consolidation

Part 7   Value shifting

Income Tax Assessment Act 1997

26   Section 701-60 (table item 3)

Repeal the item, substitute:

3

section 701-20 (Cost to head company of assets consisting of certain liabilities owed by entity that leaves group)

the *market value of the asset

3A

section 701-45 (Cost of assets consisting of liabilities owed to entity by members of the group)

the amount worked out in accordance with section 701-60A