Tax Laws Amendment (2007 Measures No. 5) Act 2007 (164 of 2007)
Schedule 1 Tax preferred entities (asset financing)
Part 2 Consequential amendments
Income Tax Assessment Act 1997
63 After subsection 705-25(4)
Insert:
Financial arrangements to which Subdivision 250-E applies
(4A) The *tax cost setting amount is instead equal to the joining entity's *terminating value for the *retained cost base asset if the asset is a *financial arrangement to which Subdivision 250-E applies immediately before the joining time.
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