Tax Laws Amendment (2008 Measures No. 5) Act 2008 (145 of 2008)
Schedule 2 Thin capitalisation and international financial reporting standards
Income Tax Assessment Act 1997
3 Subsection 820-680(2) (note)
Repeal the note, substitute:
Note 1: The entity must also keep records in accordance with section 820-985 about the revaluation, unless the exception in subsection (2A) of this section applies.
Note 2: This subsection also applies to some revaluations that are not allowed by the accounting standards (see subsection 820-684(5)).
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