Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 727.755

Consequences of indirect value shift

  (1)   This Subdivision sets out the adjustable value method of working out the consequences (if any) of an * indirect value shift.

  (2)   If those consequences are to be worked out using that method:

  (a)   the * adjustable value of each * affected interest in the * losing entity is reduced as provided in this Subdivision; and

  (b)   if the * gaining entity is a company or trust (except one listed in section   727 - 125 (about superannuation entities)) immediately before the * IVS time, the * adjustable value of each * affected interest in the * gaining entity is uplifted as provided in this Subdivision.

  (3)   The consequences for the * affected interest depend on its character. There are consequences for the interest in its character as a * CGT asset. However, if the interest is also * trading stock or a * revenue asset, there are additional consequences for it in that character.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback