Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section has effect for the purposes of applying section 705 - 70 (step 2 of allocable cost amount) of the Income Tax Assessment Act 1997 in relation to a transitional entity.
(2) In spite of subsection 705 - 70(1A) of that Act, if the amount of an accounting liability of the transitional entity would be different when it becomes an accounting liability of the transitional group, that difference is not taken into account in working out the amount of the liability.