Document ID: chunk:federal_register_of_legislation:C2010C00499:clause:10_15:p11
Version: federal_register_of_legislation:C2010C00499
Segment Type: clause
Provision Reference: sch 10 cl 15 (pt 11/11)
Character Range: 116082–117240

interest at that time.

830‑85  Setting the tax cost of assets of an entity when it ceases to be a foreign hybrid

 (1) This section applies if:
 (a) an entity is a *foreign hybrid in relation to an income year; and
 (b) the entity is in existence at the start of the next income year; and
 (c) the entity is not a foreign hybrid in relation to that income year (the post‑hybrid year).

 (2) For the purposes of applying an *asset‑based income tax regime for the post‑hybrid year and each later income year in relation to which the entity continues not to be a foreign hybrid, the *tax cost is set at the start of the post‑hybrid year, for each asset of the entity at that time.

830‑90  What the expression tax cost is set means

  The following table explains what the expression tax cost is set at the start of the hybrid year or the post‑hybrid year means, in relation to an asset in which a partner has an interest or in relation to an asset of the entity, for the purposes of each *asset‑based income tax regime:

Tax cost is set
Item             If the following asset‑based income tax regime is to apply:                  The expression means that: