Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 701.10

    A reference in this Division to:

  (a)   a provision of the Income Tax Assessment Act 1997 ; or

  (b)   a consolidated group's allocable cost amount for an entity;

is a reference to that provision as it applies to the group, or to the allocable cost amount as it is worked out for the entity, in accordance with Subdivision   705 - B of that Act and with this Division.

Table of sections

701 - 15   Tax cost and trading stock value not set for assets of chosen transitional entities

701 - 20   Working out allocable cost amount on formation for subsidiary members other than chosen transitional entities

701 - 25   No operation of value shifting and loss transfer provisions to membership interests in chosen transitional entities

701 - 32   No adjustment of amount of liabilities required in working out allocable cost amount

701 - 35   Act, transaction or event giving rise to CGT event for pre - formation roll - over after 16   May 2002 to be disregarded if cost base etc. would be different

701 - 40   When entity leaves transitional group, head company may choose, for purposes of transitional group's allocable cost amount, to increase terminating values of over - depreciated assets

701 - 45   When entity leaves transitional group, head company may choose, for purposes of transitional group's allocable cost amount, to use formation time market values, instead of terminating values, for certain pre - CGT assets

701 - 50   Increased allocable cost amount for leaving entity if it takes privatised asset brought into group by chosen transitional entity