Document ID: chunk:federal_register_of_legislation:C2023C00080:clause:2_34
Version: federal_register_of_legislation:C2023C00080
Segment Type: clause
Provision Reference: sch 2 cl 34
Character Range: 235050–235663

34  At the end of section 701‑25 (after the note)
Add:

Setting value of registered emissions unit at tax‑neutral amount
 (5) If subparagraph (2)(a)(ii) applies, the asset is taken to be an asset of the *head company at the end of the income year (but not at the start of the next income year) and the head company's *value for the asset at that time is taken to be equal to:
 (a) if the asset was *held by the head company at the start of the income year—the value of the asset at the start of the income year; or
 (b) otherwise—the expenditure incurred by the head company in becoming the holder of the asset.