Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 705.170

When a consolidated group is acquired by another consolidated group, modifications are made to the operation of Division   701 (the core rules) and Subdivision   705 - A (tax cost setting amount where a single entity joins a consolidated group) basically to ensure that the tax cost setting amount for assets of the acquired group that become those of the acquiring group reflects the cost to the latter group of acquiring the former.

Table of sections

Application and object

705 - 175   Application and object of this Subdivision

Modified application of Division   701 in relation to acquired group etc.

705 - 180   Modifications of Division   701

Modified application of Subdivision   705 - A in relation to acquiring group

705 - 185   Subdivision   705 - A has effect with modifications

Modifications of Subdivision   705 - A for the purposes of this Subdivision

705 - 195   Modified application of subsection   705 - 65(6)

705 - 200   Modified application of section   705 - 85