Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 1/45)
Character Range: 5910438–5913349

3                  less than or equal to the asset's *reduced cost base                                     the asset's reduced cost base

Application of subsections 705‑65(2), (3), (3AA) and (3A)
 (3) Subsections 705‑65(2), (3), (3AA) and (3A) apply in relation to references in subsection (2) of this section to an asset's *cost base or *reduced cost base in a corresponding way to that in which they apply in relation to references in the table in subsection 705‑65(1) to a *membership interest's cost base or reduced cost base.

Application of subsection 705‑65(4)
 (4) Subsection 705‑65(4) applies in relation to assets mentioned in subsection (2) of this section in a corresponding way to that in which it applies in relation to members' *membership interests.

Reduction in reduced cost base under subsection 165‑115ZA(3) to be added back
 (5) If:
 (a) in working out the *reduced cost base of a *member's asset for the purposes of subsection (2), a reduction has taken place under subsection 165‑115ZA(3) (about alterations in ownership or control of loss companies); and
 (b) the reduction is to some extent attributable to so much of an amount that was taken into account both in working out the amount of the reduction and in working out:
 (i) the step 5 amount under section 705‑100; or
 (ii) the step 5A amount under section 705‑102; or
 (iii) the step 6 amount under section 705‑110; or
 (iv) the step 6A amount under section 705‑112;
the reduced cost base is, to the extent mentioned in paragraph (b), increased by:
 (c) if subparagraph (b)(i) applies—the amount of that reduction; or
 (d) if subparagraph (b)(ii) applies—the amount of that reduction multiplied by the *corporate tax rate.

705‑76  Liability arising from transfer or assignment of securitised assets
  This section covers an accounting liability (the securitisation liability) if the following circumstances exist:
 (b) in working out the step 2 amount mentioned in subsection 705‑70(1) in relation to the joining entity, an amount would be added under that subsection for the securitisation liability (disregarding subsection 705‑70(4));
 (c) the joining entity transferred or equitably assigned one or more assets (the underlying securitised assets) to another entity before the joining time;
 (d) the securitisation liability:
 (i) arose from the transfer or equitable assignment of the underlying securitised assets; and
 (ii) is a liability of the joining entity at the joining time (according to the joining entity's *accounting principles for tax cost setting);
 (e) the other entity was established for the purpose of securitising assets;
 (f) the underlying securitised assets were securitised in accordance with that purpose before the joining time;
 (g) at the joining time the *market value of the joining entity's interest in the underlying securitised assets is nil, or is substantially less than the amount of the