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 .


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