6Assets and liabilities of corporations

##### 6 Assets and liabilities of corporations (1) Subject to this section, for the purposes of the application of sections 7 and 8 in relation to a corporation: (a) the assets and liabilities of the corporation on any day shall be taken to be the assets and liabilities in Australia of the corporation that were included in the assets and liabilities of the corporation in the last balance‑sheet of the corporation prepared and audited before that day; (b) the value on that day of any of those assets shall be taken to be the value of the assets concerned as shown in that balance‑sheet; and (c) the amount on that day of any of those liabilities shall be taken to be the amount of the liabilities concerned as shown in that balance‑sheet. (2) If, for the purposes of the application of this section in relation to a corporation on any day, there is not such a balance‑sheet as is mentioned in subsection (1), then, for the purposes of the application of sections 7 and 8 in relation to the corporation: (a) the assets and liabilities of the corporation on that day shall be taken to be the assets and liabilities in Australia of the corporation; (b) the value on that day of any of those assets shall be taken to be the value of the assets concerned as shown in the accounting records of the corporation; and (c) the amount on that day of any of those liabilities shall be taken to be the amount of the liabilities concerned as shown in the accounting records of the corporation.