Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 719 - MEC groups  

Subdivision 719-C - MEC group cost setting rules: joining cases  

Modified application of tax cost setting rules for joining

SECTION 719-165   Trading stock value and registered emissions unit value not set for assets of eligible tier-1 companies  

719-165(1)    
This section applies if an entity (the MEC joining entity ) becomes a ^* subsidiary member of a ^* MEC group at a time (the MEC joining time ).

719-165(2)    
Subsection 701-35(4) (setting value of trading stock at tax-neutral amount) does not apply to the assets of the MEC joining entity if it is an ^* eligible tier-1 company at the MEC joining time.

719-165(3)    

Subsection 701-35(5) (setting value of registered emissions unit at tax-neutral amount) does not apply to the assets of the MEC joining entity if it is an *eligible tier-1 company at the MEC joining time.