Document ID: chunk:federal_register_of_legislation:C2007A00055:clause:1_23
Version: federal_register_of_legislation:C2007A00055
Segment Type: clause
Provision Reference: sch 1 cl 23
Character Range: 16638–17201

23  Subsection 152‑20(1)
Repeal the subsection, substitute:

Meaning of net value of the CGT assets

 (1) The net value of the CGT assets of an entity is the amount (whether positive, negative or nil) obtained by subtracting from the sum of the *market values of those assets the sum of:
 (a) the liabilities of the entity that are related to the assets; and
 (b) the following provisions made by the entity:
 (i) provisions for annual leave;
 (ii) provisions for long service leave;
 (iii) provisions for unearned income;
 (iv) provisions for tax liabilities.