Document ID: chunk:federal_register_of_legislation:C2014A00133:clause:1_1:p7
Version: federal_register_of_legislation:C2014A00133
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 7/7)
Character Range: 19140–19707

of those assets.
The first element of the *reduced cost base of those shares or units is worked out similarly.
 (5) A liability of the original entity that is not a liability in respect of a specific asset or assets of the original entity is taken to be a liability in respect of all the assets of the original entity.
Note: An example is a bank overdraft.
 (6) If a liability is in respect of 2 or more assets, the proportion of the liability that is in respect of any one of those assets is equal to:

Part 2—Consequential amendments

Income Tax Assessment Act 1936