Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 2/2)
Character Range: 6788303–6790274

this step.
           Step 3. Work out the sum of the results of steps 1 and 2, and divide that sum by 2.
 (3) The foreign company's average value of active foreign business assets at that time is worked out in this way.

      Method statement
           Step 1. Work out the sum of the values (see subsections (4) and (5)) of every *active foreign business asset of the foreign company at the end of the most recent period:

                (a) that ends no later than that time, but no more than 12 months before that time; and
                (b) for which the foreign company has *recognised company accounts.

           Step 2. Work out the sum of the values (see subsections (4) and (5)) of every *active foreign business asset of the foreign company at the end of the most recent period:

                (a) that ends at least 6 months, but no more than 18 months, before the end of the period mentioned in step 1; and
                (b) for which the foreign company has *recognised company accounts.

                  Note: See subsection (6) if the foreign company does not have recognised company accounts for a period mentioned in this step.
           Step 3. Work out the sum of the results of steps 1 and 2, and divide that sum by 2.
Note: If the foreign company is a foreign life insurance company or a foreign general insurance company, the results of steps 1 and 2 are modified under section 768‑530.
 (4) If an *active foreign business asset of the foreign company is a *share in another company (the subsidiary company) that is a foreign resident, then, for the purposes of steps 1 and 2 of the method statement in subsection (3), treat the value of the share at a particular time according to the following table.

Value of a share in subsidiary company
Item                                    If:                                                                                                                 treat the value of the share as: