Document ID: chunk:federal_register_of_legislation:C2010C00603:clause:1_5:p2
Version: federal_register_of_legislation:C2010C00603
Segment Type: clause
Provision Reference: sch 1 cl 5 (pt 2/2)
Character Range: 10497–10986

of the joining entity at that time if the single entity rule did not apply (see section 701‑10); and

(b) the liability that is the lessee's obligation to make lease payments is taken into account under subsection 705‑70(1).

Tax cost of certain assets set at nil

 (5) If this subsection applies to an asset, in relation to the joining entity:
 (a) the asset is not taken into account under paragraph 705‑35(1)(b) or (c); and
 (b) the asset's *tax cost setting amount is taken to be nil.