New Business Tax System (Consolidation and Other Measures) Act 2003 (16 of 2003)
Schedule 1 Consolidation: amendments of various cost base provisions
Part 4 Adjustment to allocable cost amount for certain pre-joining time roll-overs from foreign residents
Income Tax Assessment Act 1997
11 Section 705-60 (after table item 3)
Insert:
|
3A |
For each step 3A amount (if any) under section 705-93 (which is about pre joining time intra group roll overs from foreign resident companies): (a) if the step 3A amount is an increase amount under that section-add to the result of step 3 (as affected by any previous application of this step) the step 3A amount; or (b) if the step 3A amount is a reduction amount under that section-subtract from the result of step 3 (as affected by any previous application of this step) the step 3A amount |
To adjust for certain intra group roll overs from foreign companies before the joining time |