Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 715 - Interactions between this Part and other areas of the income tax law  

Subdivision 715-A - Treatment of unrealised losses existing when ownership or control of a company changes before or during consolidation  

Effect on Subdivision 165-CC of a company becoming a member of a consolidated group

SECTION 715-35  

715-35   Meaning of final RUNL  

A company ' s final RUNL at a particular time (the test time ) is the amount that would have been the company ' s ^* residual unrealised net loss at the time of:

(a) if no event that subsection 165-115BB(2) refers to as a relevant event actually happens at the test time - a notional event of that kind happening at the test time; or

(b) otherwise - a notional event of that kind that happens at the test time, and that the company determines under paragraph 165-115BB(1)(b) to have happened later than each event that actually happened at that time.

Note:

This Subdivision reduces a company ' s final RUNL as amounts of it are applied for various purposes.