Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)

Schedule 2   Consolidation etc.

Part 9   International tax

Division 1   Elections about valuing interests in FIFs held as trading stock

Income Tax Assessment Act 1997

45   At the end of section 717-305

Add:

; and (c) that section 701-40 (the exit history rule) does not prevent the leaving entity from making an election under subsection 70-70(2).