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INCOME TAX ASSESSMENT ACT 1997 - SECT 711.1 What this Division is about

INCOME TAX ASSESSMENT ACT 1997 - SECT 711.1

What this Division is about

If an entity ceases to be a subsidiary member of a consolidated group, the tax cost setting amount for the group's membership interests in the entity reflects the group's cost for the entity's net assets.

Table of sections

Application and object of this Division

711 - 5   Application and object of this Division

Tax cost setting amount for membership interests etc.

711 - 10   Tax cost setting amount worked out under this Division

711 - 15   Tax cost setting amount where no multiple exit

711 - 20   What is the old group's allocable cost amount for the leaving entity?

711 - 25   Terminating values of the leaving entity's assets--step 1 in working out allocable cost amount

711 - 30   What is the head company's terminating value for an asset?

711 - 35   If head company becomes entitled to certain deductions--step 2 in working out allocable cost amount

711 - 40   Liabilities owed to the leaving entity by members of the old group--step 3 in working out allocable cost amount

711 - 45   Liabilities etc. owed by the leaving entity--step 4 in working out allocable cost amount

711 - 46   Liability arising from transfer or assignment of securitised assets

711 - 55   Tax cost setting amount for membership interests where multiple exit

711 - 65   Membership interests treated as having been acquired before 20   September 1985

711 - 70   Additional integrity rule if membership interests treated as having been acquired before 20   September 1985 under section   711 - 65--application of Division   149 to head company

711 - 75   Additional integrity rule if membership interests treated as having been acquired before 20   September 1985 under section   711 - 65--application of CGT event K6

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