INCOME TAX ASSESSMENT ACT 1997 - SECT 715.100 First choice: adjustable values of leaving assets reduced to nil

INCOME TAX ASSESSMENT ACT 1997 - SECT 715.100

    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 * head company's * final RUNL is not reduced because of it.

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