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-A - Basic case: a single entity joining an existing consolidated group  

Tax cost setting amount for assets that joining entity brings into joined group

SECTION 705-55   705-55   Order of application of sections 705-40, 705-45 and 705-47  


If more than one of sections 705-40 , 705-45 and 705-47 apply:


(a) the * head company may choose the order in which the sections are to apply; and


(b) if it does not, the order is as follows:


(i) first, section 705-40 ;

(ii) second, section 705-45 ;

(iii) third, section 705-47 .

(iv) (Repealed by No 56 of 2010)

 

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