Income Tax (Transitional Provisions) Act 1997
View history note
Hide history noteSECTION 701C-50 701C-50 Cost setting rules for exit cases - reference to modification of core rule
Section 711-5 of the Income Tax Assessment Act 1997 applies as if the following note were added at the end of the section:
Note:
If the leaving entity is a transitional foreign-held subsidiary (within the meaning of section 701C-20 of the Income Tax (Transitional Provisions) Act 1997) , this Division will, in accordance with subsection 701-15(4) of this Act (see section 701C-40 of the first-mentioned Act), apply to membership interests that an eligible non-resident mentioned in that subsection holds in the entity in the same way as it applies to membership interests that the head company holds in the entity.
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