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 2   Consequential amendment

Income Tax (Transitional Provisions) Act 1997

14   At the end of subsection 701-30(2)

Add:

Note: If an entity interposed between the head company and the transitional entity is a non-fixed trust, this subsection may involve determining how a power of appointment would have been exercised. Section 713-50 of theIncome Tax Assessment Act 1997 (applying because of section 700-1 of this Act) lists matters to have regard to in determining this.