Document ID: chunk:federal_register_of_legislation:C2012C00706:clause:3_28
Version: federal_register_of_legislation:C2012C00706
Segment Type: clause
Provision Reference: sch 3 cl 28
Character Range: 89378–89857

28  Subsection 701‑55(5C)
Repeal the subsection, substitute:

WIP amount assets
 (5C) If:
 (a) the asset's tax cost is set because an entity becomes a *subsidiary member of a *consolidated group at the particular time; and
 (b) the asset is a *WIP amount asset;
the expression means that section 25‑95 applies as if the *head company had paid a *work in progress amount for the income year in which the particular time occurs equal to the *tax cost setting amount of the asset.