Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 705 - Tax cost setting amount for assets where entities become subsidiary members of consolidated groups  

Subdivision 705-C - Case where a consolidated group is acquired by another  

Modifications of Subdivision 705-A for the purposes of this Subdivision

SECTION 705-195   Modified application of subsection 705-65(6)  

Object

705-195(1)  


The object of this section is to ensure that certain *non-membership equity interests held by * members of the acquiring group that are part of the cost of acquiring the acquired group are taken into account in working out the acquiring group's * allocable cost amount for the acquired group. Non-membership equity interests

705-195(2)  


Subsection 705-65(6) has effect as if it also treated as a *membership interest in the *head company of the acquired group a *non-membership equity interest in a *subsidiary member of the acquired group, where that interest was held at the acquisition time by a *member of the acquiring group.

 

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