Income Tax Assessment Act 1997
The * head company ' s terminating value for an asset that it holds at the leaving time because the leaving entity is taken by subsection 701-1(1) to be a part of the head company is worked out as follows. 711-30(2)
The amount is worked out by applying section 705-30 in a corresponding way to the way that section applies to work out the * terminating value for an asset that a joining entity holds at the joining time. 711-30(3)
However, that amount is the asset ' s * market value at the leaving time if:
(a) the asset is a right to receive lease payments under a lease; and
(b) the asset ' s * tax cost was set when an entity (whether the leaving entity or another entity) became a * subsidiary member of the old group; and
(c) the asset was taken to be a * retained cost base asset for the purposes of Division 705 when its tax cost was set, because of paragraph 705-56(3) (b).
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