Commonwealth Consolidated Acts

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

INCOME TAX ASSESSMENT ACT 1997 - SECT 768.515

Choices to apply market value method or book value method

Choice for market value method

  (1)   The holding company may choose to work out the * active foreign business asset percentage of the foreign company for the time of the CGT event under section   768 - 520.

Choice for book value method

  (2)   The holding company may choose to work out the * active foreign business asset percentage of the foreign company for the time of the CGT event under section   768 - 525.

Method of making choice

  (3)   The way an entity making a choice under subsection   (1) or (2) prepares its * income tax return is sufficient evidence of the making of the choice.

Note:   If an entity does not make a choice under subsection   (1) or (2), it will work out the active foreign business asset percentage of the foreign company in accordance with the default method in subsection   768 - 510(4).


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback