Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 5/5)
Character Range: 5909373–5910173

the accounting liability under subsection 705‑70(1) is reduced by the following amount:
where:
double‑counting adjustment means the amount of any reduction that has already occurred in the accounting liability under subsection 705‑70(1) to take account of the future availability of the deduction.

Reduction for intra‑group liabilities
 (2) If the amount of an accounting liability of the joining entity that is owed to a *member of the joined group is more than the amount applicable under the following table, the amount to be added for the accounting liability under subsection 705‑70(1) instead equals the amount applicable under the table.

Amount applicable
Item               If the market value of the member's asset constituted by the accounting liability is...  The amount applicable is...