|Part 2-1 Assessable Income|
|Division 20 - Amounts included to reverse the effect of past deductions||Subdivision 20-B - Disposal of a car for which lease payments have been deducted||20-135 No amount included if earlier disposal for market value|
|Part 2-5 Rules about Deductibility of Particular Kinds of Amounts|
|Division 25 - Some amounts you can deduct||25-110 Capital expenditure to terminate lease etc.||The 'market value' is used to account for expenditure.|
|Division 27 - Effect of input tax credits etc. on deductions||Subdivision 27-B - Effect of input tax credits etc. on capital allowances||27-80 Cost or opening adjustable value of depreciating assets reduced for input tax credits||The 'market value' is used to account for the cost of depreciating assets.|
|27-95 Balancing adjustment events||The 'market value' is used to account for depreciating assets (termination value).|
|Division 28 - Car expenses||Subdivision 28-D - The “12% of original value'' method||28-45 How to calculate your deduction||The 'market value' is used in the '12% of original value' method when a car is leased.
The 'cost' is used in the '12% of original value' method when a car is acquired.
|Division 30 - Gifts or contributions||Subdivision 30-A - Deductions for gifts or contributions||Various valuation requirements|
|Subdivision 30-C - Rules applying to particular gifts of property|
|Subdivision 30-DA - Donations to political parties and independent candidates and members|
|Division 31 - Conservation covenants||31-5 Deduction for entering into conservation covenant||The 'market value' is used to account for the difference between the market value of the land just before and after you enter into the covenant.|
|31-15 Valuations by the Commissioner||You must seek a valuation of the change in the 'market value' of the land from the Commissioner.|
|Division 35 - Deferral of losses from non-commercial business activities||35-40 Real property test||The 'market value' may be used to account for real property or interest.|
|35-50 Apportionment||Either the 'reduced cost base', 'market value' or 'other value' is used account for assets.|
|Part 2-10 - Capital Allowances: Rules About Deductibility of Capital Expenditure|
|Division 40 - Capital allowances||Subdivision 40-C - Cost||The 'market value' is used to account for various cases.|
|Subdivision 40-D - Balancing adjustments|
|Subdivision 40-F - Primary production depreciating assets|
|Subdivision 40-G - Capital expenditure of primary producers and other landholders|
|Subdivision 40-H - Capital expenditure that is immediately deductible|
|Subdivision 40-I - Capital expenditure that is deductible over time|
|Subdivision 40-J - Capital expenditure for the establishment of trees in carbon sink forests|
|Division 45 - Disposal of leases and leased plant||The 'market value' is used to account for any other benefit you receive or are entitled to receive.|
|Part 2-15 - Non-Assessable Income|
|Division 51 - Exempt amounts||51-5 Defence||The 'market value' is used to account for rations and quarters supplied to you without charge.|
|Division 59 - Particular amounts of non-assessable non-exempt income||59-40 Issue of rights||The 'market value' is used to account for rights issued.|
|Part 2-25 - Trading Stock|
|Division 70 - Trading stock||Subdivision 70-B - Acquiring trading stock||70-20 Non-arm's length transactions||The 'market value' is used to account for the outgoing.|
|70-30 Starting to hold as trading stock an item you already own||Various 'market value' requirements when determining an item's cost.|
|Subdivision 70-D - Assessable income arising from disposals of trading stock and certain other assets||The 'market value' is used to account for items of trading stock.|
|Subdivision 70-E - Miscellaneous||70-120 Deducting capital costs of acquiring trees||'Market value' and 'non-arm's length' rules.|
|Part 2-40 - Rules Affecting Employees and Other Taxpayers Receiving PAYG Withholding Payments|
|Division 80 - General rules||80-15 Transfer of property||The 'market value' is used to account for property included as payment.|
|Division 83A - Employee share schemes||Subdivision 83A-B - Immediate inclusion of discount in assessable income||83A-30 Amount for which discounted ESS interest acquired||The 'market value' is used to account for ESS interests acquired after 30 June 2009.|
|Subdivision 83A-C - Deferred inclusion of gain in assessable income|
|Subdivision 83A-E – Miscellaneous||83A-315 Market value of ESS interest|
|Part 2-42 - Personal Services Income|
|Division 86 - Alienation of personal services income||Subdivision 86-B - Entitlement to deductions||86-75 Superannuation||The 'market value' is used to account for the entity's principal work.|
|Division 87 - Personal services businesses||Subdivision 87-A - General||87-25 The employment test for a personal services business||The 'market value' is used to account for the individual's principal work.|
|Part 3-1 - Capital Gains and Losses: General Topics|
|Division 103 - General rules||103-5 Giving property as part of a transaction||The 'market value' is used to account for property included as part of payment, cost or expenditure.|
|Division 104 - CGT events||Various CGT events may involve a CGT gain or loss which depends on the 'market value' of the CGT asset.
E1; E2; E3; E5; E6; E7; E9
K1; K3; K4; K5; K6.
|Division 110 - Cost base and reduced cost base||Subdivision 110-A - Cost base||110-25 General rules about cost base||The 'market value' is used to account for property you gave, in acquiring the asset.|
|Division 112 - Modifications to cost base and reduced cost base||Subdivision 112-A - General modifications||112-20 Market value substitution rule||The 'market value' is used to account for acquisitions either where you did not incur expenditure, some or all of the expenditure you incurred to cannot be valued or you did not deal at 'arm's length' with the other entity.|
|Division 115 - Discount capital gains and trusts' net capital gains||Subdivision 115-A - Discount capital gains||115-45 Capital gain from equity in an entity with newly acquired assets|
|Subdivision 115-B - Discount percentage||115-115 Foreign or temporary residents - percentage for individuals||The 'market value' may be used to account for periods starting earlier than 8 May 2012.|
|Subdivision 115-D - Tax relief for shareholders in listed investment companies||115-290 Meaning of listed investment company||The 'market value' is used to account for the proportion CGT assets that are certain investments.|
|Division 116 - Capital proceeds||116-10 Modifications to general rules||The 'market value' may be used to modify the general rules (market value substitution rule).|
|116-20 General rules about capital proceeds||The 'market value' is used to account for any other property received, or are entitled to receive, in respect of the event happening (capital proceeds).|
|116-30 Market value substitution rule: modification 1|
|116-80 Special rule if CGT asset is shares or an interest in a trust||The 'market value' is used to account for shares, or the interest in trusts (capital proceeds).|
|Division 118 - Exemptions||Subdivision 118-A - General exemptions||118-10 Collectables and personal use assets||Various 'market value' requirements.|
|118-20 Reducing capital gains if amount otherwise assessable|
|118-25 Trading stock|
|118-60 Certain gifts|
|Subdivision 118-B - Main residence||118-192 Special rule for first use to produce income|
|118-227 Amount of exemption available after the principal beneficiary's death - cost base and reduced cost base|
|Division 122 - Roll-over for the disposal of assets to, or the creation of assets in, a wholly-owned company||Subdivision 122-A - Disposal or creation of assets by an individual or trustee to a wholly-owned company||Various 'market value' requirements.|
|Subdivision 122-B - Disposal or creation of assets by partners to a wholly-owned company||The 'market value' is used to account for a partners interest.|
|Division 124 - Replacement-asset roll-overs||Subdivision 124-B - Asset compulsorily acquired, lost or destroyed||The 'market value' is used to account for the original and other asset.|
|Subdivision 124-C - Statutory licences||The 'market value' is used to account for the original licence and new license.|
|Subdivision 124-E - Exchange of shares or units||The 'market value' is used to account for the original and new shares.|
|Subdivision 124-F - Exchange of rights or options||The 'market value' is used to account for the original and new rights.|
|Subdivision 124-G - Exchange of shares in one company for shares in another company||The 'market value' is used to account for shares.|
|Subdivision 124-H - Exchange of units in a unit trust for shares in a company||The 'market value' is used to account for shares and units.|
|Subdivision 124-I - Change of incorporation||The 'market value' is used to account for shares etc.|
|Subdivision 124-J - Crown leases||The 'market value' is used to account for assets.|
|Subdivision 124-L - Prospecting and mining entitlements||The 'market value' is used to account for assets.|
|Subdivision 124-M - Scrip for scrip roll-over||The 'market value' is used to account for interest/shares, equity and debt etc.|
|Subdivision 124-N - Disposal of assets by a trust to a company|
|Subdivision 124-Q - Exchange of stapled ownership interests for ownership interests in a unit trust||The 'market value' is used to account for ownership interests; and stapled entity's assets.|
|Subdivision 124-R - Water entitlements||The 'market value' is used to account for new and old entitlements; market value of the ineligible proceeds.|
|Division 125 - Demerger relief||Subdivision 125-B - Consequences for owners of interests||The 'market value' is used to account for ownership interests.|
|Subdivision 125-C - Consequences for members of demerger group||The 'market value' is used to account the asset because of the demerger.|
|Division 126 - Same-asset roll-overs||Subdivision 126-B - Companies in the same wholly-owned group||126-85 Effect of roll-over on certain liquidations||The 'market value' is used to account for of the CGT roll-over asset/s.|
|Subdivision 126-G - Transfer of assets between certain trusts||The 'market value' is used to account for interests.|
|Division 128 - Effect of death||The 'market value' is used to account for modifications to the cost base and reduced cost base of the CGT asset in the hands of the legal personal representative or beneficiary.|
|Division 130 - Investments||Subdivision 130-A - Bonus shares and units|
|Subdivision 130-B - Rights|
|Division 132 - Leases||132-15 Lessee of land acquires reversionary interest of lessor||The 'market value' is used to account for land.|
|Division 149 - When an asset stops being a pre-CGT asset||Subdivision 149-B - When asset of non-public entity stops being a pre-CGT asset||149-35 Cost base elements of asset that stops being a pre-CGT asset||The 'market value' is used to account for assets.|
|Subdivision 149-C - When asset of public entity stops being a pre-CGT asset||149-75 Cost base elements of asset that stops being a pre-CGT asset||The 'market value' is used to account for assets.|
|Division 152 - Small business relief||Subdivision 152-A - Basic conditions for relief under this Division||152-40 Meaning of active asset||The 'market value' is part of requirements.|
|Part 3-5 - Corporate Taxpayers and Corporate Distributions|
|Division 164 - Non-share capital accounts for companies||164-15 Credits to non-share capital account||The 'market value' is used to account for various interests.|
|164-20 Debits to non-share capital account||The 'market value' is used to account for non-share equity interest in the company.|
|Division 165 - Income tax consequences of changing ownership or control of a company||Subdivision 165-CC - Change of ownership or control of company that has an unrealised net loss||The 'market value' either of each asset individually or together is used to calculate whether a company has an unrealised net loss.|
|Subdivision 165-CD - Reductions after alterations in ownership or control of loss company||The 'market value' either of each asset individually or together is used to calculate whether a company has an unrealised net loss.
Also requires the 'market values' of the equity or debt.
|Division 170 - Treatment of certain company groups for income tax purposes||Subdivision 170-C - Provisions applying to both transfers of tax losses and transfers of net capital losses within wholly-owned groups of companies||The 'market value' is used to account for the adjustment to the cost base and reduced cost base of an equity or debt interest.|
|Division 197 - Tainted share capital accounts||Subdivision 197-A - What transfers into a company's share capital account does this Division apply to?||197-15 Exclusion for amounts transferred under debt/equity swaps||The 'market value' is used to account for the shares issued by the company.|
|197-35 Exclusion for transfers made in connection with demutualisations of insurance etc. companies||Company valuation amount.|
|197-40 Exclusion for post-demutualisation transfers relating to life insurance companies|
|Part 3-6 - the Imputation System|
|Division 202 - Franking a distribution||Subdivision 202-C - Which distributions can be franked?||202-45 Unfrankable distributions||The 'market value' is used to account for the excess purchase price of the share at the time of the buy-back.|
|Division 207 - Effect of receiving a franked distribution||Subdivision 207-E - Exceptions to the rules in
|Special rule about whether interests in unit trusts are defeasible.|
|Part 3-10 - Financial Transactions|
|Division 230 - Taxation of financial arrangements||Subdivision 230-C – Fair value method||The 'fair value' is used to account for a gain or loss from a financial arrangement (tax-timing method).|
|Subdivision 230-D - Foreign exchange retranslation method||230-290 Balancing adjustment if election ceases to apply||'Fair value' requirements.|
|Subdivision 230-E - Hedging financial arrangements method||Some 'fair value' requirements in various sections.|
|Subdivision 230-F - Reliance on financial reports||230-430 Balancing adjustment if election ceases to apply|
|Subdivision 230-I - Other provisions||230-505 Financial arrangement as consideration for provision or acquisition of a thing||'Market value' of the thing.
'Fair value' requirements in parts of the subdivision.
|Subdivision 230-J - Additional operation of Division||230-530 Additional operation of Division||'Fair value' requirements|
|Division 240 - Arrangements treated as a sale and loan||240-3 How the recharacterisation affects the notional seller||The 'cost', 'value' or 'arm's length value' is used to account for the consideration for the notional sale.|
|240-7 How the recharacterisation affects the notional buyer||The 'cost', 'value' or 'arm's length value' is used to account for the acquisition.|
|Subdivision 240-F - The end of the arrangement||240-90 What happens if the notional buyer ceases to have the right to use the property||The 'market value' is used to account for the property at the end of the arrangement.|
|Division 242 - Leases of luxury cars||The 'market value' is used to determine whether a luxury car exceeds the car limit set.|
|Division 245 - Forgiveness of commercial debts||Subdivision 245-C - Calculation of gross forgiven amount of a debt||The 'market value' is used to account for the value of the debt when it is forgiven.
Various other 'market value' requirements throughout the division.
|Division 247 - Capital protected borrowings||247-10 What capital protected borrowing and capital protection are||The 'market value' of a thing needs to be considered (the protected thing).|
|Division 250 - Assets put to tax preferred use||Subdivision 250-B - When this Division applies to you and an asset||The 'market value' is used to account for the asset and financial arrangement.|
|Subdivision 250-C - Denial of, or reduction in, capital allowance deductions|
|Subdivision 250-D - Deemed loan treatment of financial benefits provided for tax preferred use|
|Subdivision 250-E - Taxation of deemed loan|
|Part 3-30 - Superannuation|
|Division 285 - General concepts relating to superannuation||285-5 Transfers of property||The 'market value' is used to account for the property.|
|Division 295 - Taxation of superannuation entities||Subdivision 295-B - Modifications of provisions of this Act||The 'market value' of superannuation interests is used in the definition of an Australian superannuation fund.|
|Subdivision 295-D - Contributions excluded||The 'market value' of the transferor's investment is used limit the transfer.|
|Part 3-32 - Co-operatives and Mutual Entities|
|Division 315 - Demutualisation of private health insurers||Subdivision 315-B - Cost base of certain shares and rights in private health insurers||The 'market value' is used to determine the cost base of shares and rights issued under the demutualisation.|
|Subdivision 315-C - Lost policy holders trust|
|Subdivision 315-D - Special cost base rules for certain shares and rights in holding companies|
|Division 316 - Demutualisation of friendly society health or life insurers||Subdivision 316-B - Capital gains and losses connected with the demutualisation||316-65 Valuation factor for sections 316-60, 316-105 and 316-165||The 'market value' is used to account for the friendly society's health insurance business.|
|Subdivision 316-D - Lost policy holders trust||The 'market value' is used to account for property.|
|Part 3-35 - Insurance Business|
|Division 320 - Life insurance companies||Subdivision 320-F - Complying superannuation/FHSA asset pool||320-200 Consequences of transfer of assets to or from complying superannuation/FHSA asset pool|
|Subdivision 320-H - Segregation of assets to discharge exempt life insurance policy liabilities||320-230 Valuations of segregated exempt assets and exempt life insurance policy liabilities for each valuation time|
|320-255 Consequences of transfer of assets to or from segregated exempt assets|
|Part 3-45 - Rules for Particular Industries and Occupations|
|Division 355 - Research and Development||Subdivision 355-F - Integrity Rules||355-400 Expenditure incurred while not at arm's length||The 'market value' is used to account for relevant R&D.|
|Subdivision 355-H - Feedstock adjustments||The 'market value' is used to account for the marketable product.|
|Division 385 - Primary production||Subdivision 385-E - Primary producer can elect to spread or defer tax on profit from forced disposal or death of live stock||The 'market value' is used to account for livestock.|
|Division 394 - Forestry managed investment schemes||The 'market value' is used to account for the forestry interest.|
|Part 3-50 - Climate Change|
|Division 420 - Registered emissions units||The 'market value' is used to account units and other requirements.
Not detailed due to expected government changes.
|Part 3-90 - Consolidated Groups|
|Division 701 - Core rules||701-60 Tax cost setting amount||The 'market value' is used to account for the asset's tax cost setting amount in some cases.|
|701-63 Right to future income and WIP amount asset||The 'market value' is used to account for the valuable right.|
|Division 705 - Tax cost setting amount for assets where entities become subsidiary members of consolidated groups||Subdivision 705-A - Basic case: a single entity joining an existing consolidated group||The 'market value' for membership interests, assets etc are required throughout subdivision (Allocable Cost Amount (ACA) and pre-CGT factor).|
|Subdivision 705-B - Case of group formation||The 'market value' is used to account for membership interests in subject entity, first level entity's direct and indirect membership interests and first entity's membership interests in third entity held through second entity.|
|Subdivision 705-D - Where multiple entities are linked by membership interests||The 'market value' is used to account for linked membership interests.|
|Division 707 - Losses for head companies when entities become members etc.||Subdivision 707-C - Amount of transferred losses that can be utilised||The 'market value' is used to account for available fraction.
'Market value' rules throughout the subdivision.
There are modified 'market value' rules and rules to prevent inflation of modified market value.
|Division 711 - Tax cost setting amount for membership interests where entities cease to be subsidiary members of consolidated groups||Various 'market value' requirements.|
|Division 713 - Rules for particular kinds of entities||Subdivision 713-A - Trusts||Working out a joined group's allocable cost amount for a joining trust.|
|Subdivision 713-E - Partnerships||Special rules where partnership joins/leaves a consolidated group
'Market value' of partnership cost setting interest.
|Division 715 - Interactions between this Part and other areas of the income tax law||Subdivision 715-A - Treatment of unrealised losses existing when ownership or control of a company changes before or during consolidation||The 'market value' is used to account for membership interests, assets etc.|
|Division 719 - MEC groups||Subdivision 719-F - Losses||The 'modified market value' is used to account for available fraction for bundle of losses.|
|Subdivision 719-K - MEC group cost setting rules: pooling cases||The 'market value' is used to account for the setting the cost of all reset interests.|
|Part 3-95 - Value Shifting|
|Division 723 - Direct value shifting by creating right over non-depreciating asset||Subdivision 723-A - Reduction in loss from realising non-depreciating asset||The 'market value' is used to account for the right and underlying asset.|
|Division 725 - Direct value shifting affecting interests in companies and trusts||Subdivision 725-A - Scope of the direct value shifting rules||The 'market value' is used to determine changes attributable to the value shift.
'Market value' requirements throughout the division.
|Subdivision 725-B - What is a direct value shift?|
|Subdivision 725-C - Consequences of a direct value shift|
|Subdivision 725-D - Consequences for down interest or up interest as CGT asset|
|Subdivision 725-E - Consequences for down interest or up interest as trading stock or a revenue asset|
|Subdivision 725-F - Value adjustments and taxed gains|
|Division 727 - Indirect value shifting affecting interests in companies and trusts, and arising from non-arm's length dealings||Subdivision 727-B - What is an indirect value shift||The 'market value' is used to determine the effects on the interests (both direct and indirect) in entities.
Rules of thumb are included to make it easier to determine the 'market value' of some kinds of economic benefits.
|Subdivision 727-C - Exclusions|
|Subdivision 727-D - Working out the market value of economic benefits|
|Subdivision 727-G - The realisation time method|
|Subdivision 727-H - The adjustable value method|
|Subdivision 727-K - Reduction of loss on equity or loan interests realised before the IVS time|
|Subdivision 727-L - Indirect value shift resulting from a direct value shift|
|Part 4-5 - General|
|Division 768 - Exempt foreign income and gains||Subdivision 768-G - Reduction in capital gains and losses arising from CGT events in relation to certain voting interests in active foreign companies||The 'market value' is one method used to determine the active foreign business asset percentage.|
|Subdivision 768-R - Temporary residents||The 'market value' is used to account for the cost base and reduced cost base of the asset (at the time you cease to be a temporary resident).|
|Division 775 - Foreign currency gains and losses||Subdivision 775-B - Realisation of forex gains or losses||The 'market value' is used to account for capital proceeds.
The 'market value' is used to account for the benefit you receive by way of a non-cash benefit.
|Subdivision 775-F - Retranslation under foreign exchange retranslation election under Subdivision 230-D||775-315 Balancing adjustment when election ceases to apply to arrangement||'Fair value' requirements|
|Division 815 - Cross-border transfer pricing||Subdivision 815-A - Treaty-equivalent cross-border transfer pricing rules||The 'arm's length principle' is used to ensure that certain amounts are appropriately brought to tax in Australia.|
|Subdivision 815-B - Arm's length principle for cross-border conditions between entities||The 'arm's length principle' is used to determine a tax advantage in Australia from cross-border conditions.|
|Subdivision 815-C - Arm's length principle for permanent establishments||The use of 'arm's length principle' is extended to permanent establishments (PEs).|
|Division 820 – Thin Capitalisation rules||Subdivision 820-G - Calculating the average values||The 'average value' of assets, liabilities and equity etc is required.
The Commissioner to substitute a more 'appropriate value' for an average value.
|Division 855 - Capital gains and foreign residents||Subdivision 855-A - Disregarding a capital gain or loss by foreign residents||855-30 Principal asset test||The 'market value' is used to account for taxable Australian real property (TARP) and non-TARP assets.|
|Subdivision 855-B - Becoming an Australian resident||The 'market value' is used to account for the cost base and reduced cost base of the asset at the time you become an Australian resident.|
|Part 6-1 - Concepts and Topics|
|Division 960 - General||Subdivision 960-S – Market value||960-405 Effect of GST on market value of an asset||The 'market value' in this subdivision is reduced by the amount of GST credits that relate to a taxable supply and anything restricting or preventing the conversion of non-cash benefits is disregarded.|
|960-410 Market value of non-cash benefits|
|960-415 Amounts that depend on market value|
|Division 974 - Debt and equity interests||Subdivision 974-B - Debt interests||974-35 Valuation of financial benefits - general rules|
|974-40 Valuation of financial benefits - rights and options to terminate early|
|974-45 Valuation of financial benefits - convertible interests|
|974-50 Valuation of financial benefits - value in present value terms|
|Part 6-5 - Dictionary Definitions|
|Division 995 - Definitions||995-1 Definitions||'Market value' has a meaning affected by subdivision 960-S.
'Modified market value' of an entity has the meaning given by section 707-325.
Various other definitions rely on 'market value'.
Definition of 'fair value' election.
'Arm's length consideration' has the meaning given by section 300-1 of the Minerals Resource Rent Tax Act 2012.