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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 701.10

Interpretation

                   A reference in this Division to:

                     (a)  a provision of the Income Tax Assessment Act 1997 ; or

                     (b)  a consolidated group's allocable cost amount for an entity;

is a reference to that provision as it applies to the group, or to the allocable cost amount as it is worked out for the entity, in accordance with Subdivision 705-B of that Act and with this Division.

Table of sections

701-15      Tax cost and trading stock value not set for assets of chosen transitional entities

701-20      Working out allocable cost amount on formation for subsidiary members other than chosen transitional entities

701-25      No operation of value shifting and loss transfer provisions to membership interests in chosen transitional entities

701-32      No adjustment of amount of liabilities required in working out allocable cost amount

701-35      Act, transaction or event giving rise to CGT event for pre-formation roll-over after 16 May 2002 to be disregarded if cost base etc. would be different

701-40      When entity leaves transitional group, head company may choose, for purposes of transitional group's allocable cost amount, to increase terminating values of over-depreciated assets

701-45      When entity leaves transitional group, head company may choose, for purposes of transitional group's allocable cost amount, to use formation time market values, instead of terminating values, for certain pre-CGT assets

701-50      Increased allocable cost amount for leaving entity if it takes privatised asset brought into group by chosen transitional entity



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