Document ID: chunk:federal_register_of_legislation:C2010C00578:clause:2_40
Version: federal_register_of_legislation:C2010C00578
Segment Type: clause
Provision Reference: sch 2 cl 40
Character Range: 53017–54197

40  Paragraphs 820‑613(3)(a) and (b)
Repeal the paragraphs, substitute:
 (a) in the case of a choice under section 820‑597:
 (i) the amounts worked out under the table in subsection 820‑589(3) for that day for each entity that is a *member of the group on that day (except so much of those amounts as is attributable to any of the *overseas permanent establishments of such entities); minus
 (ii) the total of the *controlled foreign equity, at the end of that day, of each such entity (except so much of that total as is attributable to any of the overseas permanent establishments of such entities); and
 (b) in the case of a choice under section 820‑599:
 (i) the amount worked out under the table in subsection 820‑589(3) for that day for the single company (except so much of that total as is attributable to any of the single company's overseas permanent establishments); minus
 (ii) the single company's controlled foreign equity, at the end of that day (except so much of it as is attributable to any of the single company's overseas permanent establishments); and

Part 5—Disallowed deductions not included in cost base of a CGT asset

Income Tax Assessment Act 1997