Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)
Schedule 5 Consolidation
Part 8 Accounting principles
Income Tax Assessment Act 1997
104 After subsection 711-45(1)
Insert:
Leaving entity's accounting principles for tax cost setting
(1A) The leaving entity's accounting principles for tax cost setting are the *accounting principles that the group would use if it were to prepare its financial statements just before the leaving time (disregarding subsection 701-1(1) (the single entity rule)).
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
