Taxation Laws Amendment Act (No. 8) 2003 (107 of 2003)
Schedule 2 Various amendments relating to consolidated groups
Part 3 CGT event in respect of reduction in tax cost setting amounts for reset cost base assets
Income Tax Assessment Act 1997
7 Section 104-5 (at the end of the table)
Add:
|
L8 Reduction in tax cost setting amount for reset cost base assets on joining cannot be allocated [See section 104-535] |
Just after entity becomes subsidiary member |
no capital gain |
amount of reduction that cannot be allocated |