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 entity leaving consolidated group

SECTION 715-100  

715-100   First choice: adjustable values of leaving assets reduced to nil  

The first choice is to reduce the ^* adjustable value of each leaving asset to nil. The choice has effect accordingly, just before the leaving time. The ^* head company ' s ^* final RUNL is not reduced because of it.

Note:

The consequences of the choice are worked out under section 715-145 .