Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-90
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CONSOLIDATED GROUPS
Division 719
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MEC groups
Subdivision 719-C
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MEC group cost setting rules: joining cases
Modified application of tax cost setting rules for joining
SECTION 719-165 Trading stock value and registered emissions unit value not set for assets of eligible tier-1 companies 719-165(1)
This section applies if an entity (the MEC joining entity ) becomes a * subsidiary member of a * MEC group at a time (the MEC joining time ).
719-165(2)
Subsection 701-35(4) (setting value of trading stock at tax-neutral amount) does not apply to the assets of the MEC joining entity if it is an * eligible tier-1 company at the MEC joining time.
719-165(3)
Subsection 701-35(5) (setting value of registered emissions unit at tax-neutral amount) does not apply to the assets of the MEC joining entity if it is an * eligible tier-1 company at the MEC joining time.
View history note
Hide history noteSECTION 719-165 Trading stock value and registered emissions unit value not set for assets of eligible tier-1 companies 719-165(1)
This section applies if an entity (the MEC joining entity ) becomes a * subsidiary member of a * MEC group at a time (the MEC joining time ).
719-165(2)
Subsection 701-35(4) (setting value of trading stock at tax-neutral amount) does not apply to the assets of the MEC joining entity if it is an * eligible tier-1 company at the MEC joining time.
719-165(3)
Subsection 701-35(5) (setting value of registered emissions unit at tax-neutral amount) does not apply to the assets of the MEC joining entity if it is an * eligible tier-1 company at the MEC joining time.