Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 705.210

When entities that are linked by membership interests join a consolidated group, 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 entities.

Table of sections

Application and object

705 - 215   Application and object of this Subdivision

Modified application of Subdivision   705 - A

705 - 220   Subdivision   705 - A has effect with modifications

705 - 225   Order in which tax cost setting amounts are to be worked out where linked entities have membership interests in other linked entities

705 - 227   Adjustment in working out step 3A of allocable cost amount to take account of membership interests held by linked entities in other linked entities

705 - 230   Adjustments to restrict step 4 reduction of allocable cost amount to effective distributions to head company in respect of direct membership interests

705 - 235   Adjustment to allocation of allocable cost amount to take account of owned profits or losses of certain linked entities

705 - 240   Modified application of section   705 - 57