s 701-32
In forceNo adjustment of amount of liabilities required in working out allocable cost amount
Chapter 3Specialist liability rules
Part 3-90Consolidated groups
Division 701Modified application of provisions of Income Tax Assessment Act 1997 for certain consolidated groups formed in 2002‑3 and 2003‑4 financial years
Subdivision 701-BModified application of provisions
701-32 No adjustment of amount of liabilities required in working out allocable cost amount
(1)
This section has effect for the purposes of applying section 705‑70 (step 2 of allocable cost amount) of the Income Tax Assessment Act 1997 in relation to a transitional entity.
(2)
In spite of subsection 705‑70(1A) of that Act, if the amount of an accounting liability of the transitional entity would be different when it becomes an accounting liability of the transitional group, that difference is not taken into account in working out the amount of the liability.
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