ITAA 1997 s 104-230(2) is defined in subsection 995-1(1)

Income tax: capital gains: in working out the 'net value' of a company or trust for the purposes of subsection 104-230(2) of the Income Tax Assessment Act 1997 , does the word 'assets' in the definition of 'net value', for an entity, in subsection 995-1(1) include(a) assets, capital gains and capital losses from which are disregarded for capital gains purposes; (b) trading stock; and (c) 'off-balance sheet' assets and does the word 'liabilities' include contingent liabilities?