Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 703 - Consolidated groups and their members  

Notice of events affecting consolidated group  

SECTION 703-58   Notice of choice to consolidate  

703-58(1)    
If a *consolidated group comes into existence on the day specified in a choice under section 703-50 , the *head company of the group must give the Commissioner a notice in the *approved form containing the following information:

(a) the identity of the head company;

(b) the day specified in the choice on which the *consolidatable group is taken to be consolidated;

(c) the identity of each *subsidiary member of the group on that day;

(d) the identity of each entity that was a subsidiary member of the group on that day but was not such a subsidiary member when the notice is given;

(e) the identity of each entity that was not a subsidiary member of the group on that day but was such a subsidiary member when the notice is given;

(f) the identity of each entity that became a subsidiary member of the group after that day but was not such a subsidiary member when the notice is given.

703-58(2)    
The notice must be given no later than:

(a) if the *head company is required to give the Commissioner its *income tax return for the income year during which that day occurs - the day on which the company gives the Commissioner that income tax return; or

(b) otherwise - the last day in the period within which the head company would be required to give the Commissioner such a return if it were required to give the Commissioner such a return.