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

Schedule 14   Loss integrity rules: global method of valuing assets

Part 1   Income Tax Assessment Act 1997

13   After subsection 165-115W(1)

Insert:

(1A) Step 2 in the method statement in subsection (1) does not apply to an amount counted at an earlier alteration time if the company has chosen to use the*global method of working out whether it has an adjusted unrealised loss at that earlier time.