Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 725.340

Multiple trading stock or revenue asset consequences for the same down interest or up interest

  (1)   A * down interest or * up interest of which you are an * affected owner may be covered by 2 or more items in the table in subsection   725 - 335(3).

  (2)   If the * adjustable value of the same * down interest or * up interest is decreased or uplifted under 2 or more items, it is decreased or uplifted by the total of the amounts worked out under those items.

Note:   If subsection   725 - 335(3A) is relevant, it will affect all the uplifts worked out under all those items.

  (3)   If for a particular * down interest there is a * taxing event generating a gain under an item, that taxing event is in addition to:

  (a)   each taxing event generating a gain for that interest under any other item in the table; and

  (b)   each decrease in the * adjustable value of the interest under that or any other item in the table.

Table of sections

725 - 365   Decreases in adjustable values of down interests (with pre - shift gains), and taxing events generating a gain

725 - 370   Uplifts in adjustable values of up interests under certain table items

725 - 375   Uplifts in adjustable values of up interests under other table items

725 - 380   Decreases in adjustable value of down interests (with pre - shift losses)


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