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
1 At the end of section 705-125
Add:
Modification if joining entity is a trust
(4) If the joining entity is a trust, a*membership interest in it is not taken into account under paragraph (3)(a) unless the membership interest is either a unit or an interest in the trust.
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