New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 (117 of 2002)
Schedule 3 Consolidation: effect on cost base rules etc. of loss of pre-CGT status of membership interests
Part 2 Consequential CGT amendments
Income Tax Assessment Act 1997
5 Section 104-5 (after table row relating to event number K8)
Insert:
|
L1 Reduction under section 705-57 in tax cost setting amount of assets of entity becoming subsidiary member of consolidated group [See section 104-500] |
Just after entity becomes subsidiary member |
no capital gain |
amount of reduction |