Document ID: chunk:federal_register_of_legislation:C2014A00110:clause:5_114
Version: federal_register_of_legislation:C2014A00110
Segment Type: clause
Provision Reference: sch 5 cl 114
Character Range: 86277–86928

114  Paragraph 701‑55(2)(d)
Repeal the paragraph, substitute:
 (d) where just before that time the prime cost method applied for working out the asset's decline in value and the asset's *tax cost setting amount exceeds the joining entity's terminating value for the asset—either:
 (i) the *head company were required to choose at that time an effective life for the asset in accordance with subsections 40‑95(1) and (3), and any choice of an effective life determined by the Commissioner were limited to one in force at that time; or
 (ii) an effective life for the asset were worked out under subsection 40‑95(7), (8), (9) or (10) at that time; and