Taxation Laws Amendment Act (No. 8) 2003 (107 of 2003)

Schedule 2   Various amendments relating to consolidated groups

Part 3   CGT event in respect of reduction in tax cost setting amounts for reset cost base assets

Income Tax Assessment Act 1997

7   Section 104-5 (at the end of the table)

Add:

L8 Reduction in tax cost setting amount for reset cost base assets on joining cannot be allocated

[See section 104-535]

Just after entity becomes subsidiary member

no capital gain

amount of reduction that cannot be allocated