Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 705.130

When a consolidated group comes into existence, the tax cost setting amount for the assets of each entity that becomes a subsidiary member is worked out by modifying the rules in Subdivision   705 - A, so that the amount reflects the cost to the group of acquiring the entity.

Table of sections

Application and object

705 - 135   Application and object of this Subdivision

Modified application of Subdivision   705 - A

705 - 140   Subdivision   705 - A has effect with modifications

705 - 145   Order in which tax cost setting amounts are to be worked out where subsidiary members have membership interests in other subsidiary members

705 - 147   Adjustment in working out step 3A of allocable cost amount to take account of membership interests held by subsidiary members in other such members

705 - 155   Adjustments to restrict step 4 reduction of allocable cost amount to effective distributions to head company in respect of direct membership interests

705 - 160   Adjustment to allocation of allocable cost amount to take account of owned profits or losses of certain entities that become subsidiary members

705 - 163   Modified application of section   705 - 57