Document ID: chunk:federal_register_of_legislation:C2025C00029:section:5:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 5 (pt 1/6)
Character Range: 6024234–6026791

5                                         The available fractions (apart from this item) for all the *bundles of losses most recently made by the company that most recently made the losses in the bundle total more than 1.000

 (3) If the transfer under Subdivision 707‑A of one or more losses in a *bundle causes events described in 2 or more items of the table in subsection (2) to happen and require calculations of the available fraction for that bundle and for one or more other bundles:
 (a) make the calculations required by those items in the order in which the items appear in the table; and
 (b) take account of the results of a calculation under an earlier item in making a calculation under a later item.
 (4) For a *bundle of losses:
 (a) subject to paragraph (b)—the available fraction is worked out to 3 decimal places, rounding up if the fourth decimal place is 5 or more; or
 (b) if the available fraction worked out under paragraph (a) is 0.000 and, if it were worked out to more decimal places, it would include one or more non‑zero digits—the available fraction is worked out to the number of decimal places that includes the first or only such digit, rounding up if the next decimal place is 5 or more.
Examples: For 0.000328, the available fraction is 0.0003. For 0.000086, the available fraction is 0.00009.
 (4A) Subsections (1) and (2) have effect subject to subsection (4).
 (5) If, apart from this subsection, the available fraction for a *bundle of losses would need to be worked out by dividing a number by 0, work out the available fraction by dividing the number by 1.
 (6) The available fraction for a *bundle of losses is 0 if, apart from this subsection, it would be negative.

707‑325  Modified market value of an entity becoming a member of a consolidated group

Basic rule
 (1) The modified market value of an entity that becomes a *member of a *consolidated group at a particular time is the amount that would be the *market value of the entity at that time if:
 (a) the entity had no loss of any *sort for any income year, and the balance of its *franking account at that time were nil; and
 (b) the *subsidiary members of the group at that time were separate entities and not just parts of the *head company of the group; and
 (c) the entity's market value did not include an amount attributable (directly or indirectly) to a *membership interest in a member of the group (other than the entity):
 (i) that is a *corporate tax entity; or
 (ii) that transferred a loss under Subdivision 707‑A to the head company of the