Income Tax Assessment Act 1997
For the purposes of this Division as applying because of this Subdivision, the value or amount of a particular matter as at a particular time during the grouping period is to be worked out, so far as practicable, on the basis of the information that would be contained in a set of consolidated accounts:
(a) prepared, in accordance with the *accounting standard on consolidated accounts, as at that time; and
(b) covering the *consolidated group, *MEC group or single company, as appropriate, and each *Australian permanent establishment that section 820-603 treats as part of the *head company or single company at that time.
This subsection does not depend on whether such a set of consolidated accounts was prepared, or had to be prepared, for other purposes.820-611(2)
To avoid doubt, subsection (1) also applies to working out the value or amount, as at a particular time, of a matter mentioned in any of sections 820-613 to 820-615 .
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