Document ID: chunk:federal_register_of_legislation:C2012C00706:clause:3_15
Version: federal_register_of_legislation:C2012C00706
Segment Type: clause
Provision Reference: sch 3 cl 15
Character Range: 77089–77654

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

Rights to future amounts
 (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) section 716‑410 (rights to amounts that are expected to be included in assessable income) covers the asset at the particular time; and
 (c) the asset is not a *non‑deductible right to future income in relation to the entity;
the expression means that section 716‑405 may apply in relation to the asset after the particular time.