Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 5   Consolidation

Part 11   Retained cost base assets

2   Division 2 - Rights to future income assets

Income Tax Assessment Act 1997

123   After subsection 705-25(4A)

Insert:

Rights to payments in respect of uncompleted work etc.

(4B) If the *retained cost base asset is covered by paragraph (d) of the definition of that expression, its *tax cost setting amount is equal to the joining entity's *terminating value for the asset.