Tax Law Improvement Act (No. 1) 1998 (46 of 1998)
10 Amendment of Chapter 6 (the Dictionary) of the Income Tax Assessment Act 1997
97 Subsection 995-1(1)
Insert:
net value means:
(a) for an entity - the amount by which the sum of the market values of the assets of the entity exceeds the sum of its liabilities; or
(b) for a *business - the amount by which the sum of the market values of the assets of the business (including goodwill) exceeds the sum of its liabilities.
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