Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2
Character Range: 5882725–5884690

2                                                                              is greater than the available amount               its *tax cost setting amount is:                                                                                                             the one or more liabilities are not taken into account under subsection 705‑70(1)
                                                                                                                                  (a) the available amount; plus
                                                                                                                                  (b) the amount worked out for the asset under section 705‑35 on the basis that the asset's *market value is reduced by the available amount

Note: Paragraph 705‑35(1)(c) allocates the allocable cost amount (as reduced by the tax cost setting amounts of retained cost base assets) among the joining entity's reset cost base assets.
 (4) If the set consists only of one or more *retained cost base assets and one or more liabilities, this section does not affect their treatment.
Note: This is because the tax cost setting amount for a retained cost base asset is worked out without regard to the allocable cost amount.
 (5) In any other case:
 (a) first, work out the available amount under paragraph (3)(a); and
 (b) next, work out the consequences under this table.

Treatment of linked assets and liabilities: all other cases
Item                                                         In this case:                                                                                                                                                                                  This is the result for the one or more assets in the set:                                                                                                                         This is the result for the one or more liabilities in the set: