INCOME TAX ASSESSMENT ACT 1997
This Division is designed to prevent tax being avoided through:
where amounts have been deducted for the decline in value of the plant.
It includes amounts in assessable income. Any benefit received, and any reduction in a liability, is taken into account in calculating the amounts included.
Where the disposal of shares in a 100% subsidiary is involved, the companies in the former wholly-owned group may be made jointly and severally liable for tax that the former subsidiary does not pay.