New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (90 of 2002)

Schedule 15   Value shifting

Part 4   Consequential amendment of the Income Tax Assessment Act 1936

16   Paragraph 245-85(1)(b) in Schedule 2C

After "forgiveness of the debt", insert "(except a reduction under Division 727 (indirect value shifting) of theIncome Tax Assessment Act 1997)".