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 of assets in loss denial pool of head company becoming assets of leaving entity

SECTION 715-125   715-125   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 * loss denial balance of the * head company's * loss denial pool is not reduced because of it.
Note:

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


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.