Financial Sector Legislation Amendment (Restructures) Act 2007 (117 of 2007)
Schedule 3 Consequential amendments
Income Tax Assessment Act 1997
22 After subsection 711-45(6)
Insert:
Increase to cover ADI restructure preference share interests
(6A) If any *share in the leaving entity needed to be disregarded under section 703-37 in order for the leaving entity to be a *wholly-owned subsidiary of the *head company at the leaving time, the step 4 amount is increased by the sum of the *market values of those shares.
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