Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 715.125

First choice: adjustable values of leaving assets reduced to nil

                   The first choice is to reduce the * adjustable value of each leaving asset to nil. The choice has effect accordingly, just before the leaving time. The * loss denial balance of the * head company's * loss denial pool is not reduced because of it.

Note:          The consequences of the choice are worked out under section 715-145.



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