New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 (117 of 2002)

Schedule 5   Consolidation: allocable cost amount for a joining trust

Part 1   New provisions inserted in the Income Tax Assessment Act 1997

5   Subsection 711-70(5)

Repeal the link note, substitute:

Modification if leaving entity is a trust

(6) A*membership interest in a trust that is one of the multiple exit entities is not taken into account under this section unless the membership interest is either a unit or an interest in the trust.

[The next Division is Division 713.]