TD 2007/27A1 - Addendum
Income tax: consolidation: is the cost base of the goodwill referred to in subsection 711-25(2) of the Income Tax Assessment Act 1997 limited to the cost base of goodwill previously identified under subsection 705-35(3) of that Act?
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Omit the third sentence; substitute:
The first step in working out the tax cost setting amount for membership interests under subsection 711-25(1) (the step 1 amount) is to add up the terminating values of the leaving entity's assets.
- ITAA 1997 Part 3-1
- ITAA 1997 Part 3-90
- ITAA 1997 Pt 3-1
- ITAA 1997 Pt 3-90
This Addendum applies on and after 10 February 2010, the date of application of the amendments to the Income Tax Assessment Act 1997 made by Division 1 of Part 7 of Schedule 5 to the Tax Laws Amendment (2010 Measures No. 1) Act 2010.
Commissioner of Taxation
16 March 2011