Income Tax Assessment Act 1997
View history note
Hide history noteThis Subdivision sets out the adjustable value method of working out the consequences (if any) of an * indirect value shift.
727-755(2)
If those consequences are to be worked out using that method:
(a) the * adjustable value of each * affected interest in the * losing entity is reduced as provided in this Subdivision; and
(b) if the * gaining entity is a company or trust (except one listed in section 727-125 (about superannuation entities)) immediately before the * IVS time, the * adjustable value of each * affected interest in the * gaining entity is uplifted as provided in this Subdivision.
727-755(3)
The consequences for the * affected interest depend on its character. There are consequences for the interest in its character as a * CGT asset. However, if the interest is also * trading stock or a * revenue asset, there are additional consequences for it in that character.
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