INCOME TAX ASSESSMENT ACT 1997 - SECT 711.40 Liabilities owed to the leaving entity by members of the old group--step 3 in working out allocable cost amount
INCOME TAX ASSESSMENT ACT 1997 - SECT 711.40
Liabilities owed to the leaving entity by members of the old group--step 3 in working out allocable cost amountFor the purposes of step 3 in the table in subsection 711 - 20(1), the step 3 amount is the total, for all liabilities owed by * members of the old group to the leaving entity at the leaving time, of the * tax cost setting amounts of the corresponding assets of the leaving entity.
Note: The tax cost of a corresponding asset of the leaving entity is
set under section 701 - 45. The tax cost setting amount of the
corresponding asset is determined under section 701 - 60A.