Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 709 - Other rules applying when entities become subsidiary members etc.  

Subdivision 709-B - Imputation issues  

Operative provisions

SECTION 709-155   Testing consolidated groups  

709-155(1)    
To determine whether a ^* consolidated group is an ^* exempting entity or ^* former exempting entity, the tests in Division 208 are applied to the ^* head company of the group.

709-155(2)    
However, there are some additional rules that can alter the way that Division 208 applies to a ^* consolidated group. These are set out in sections 709-160 to 709-175 .

709-155(3)    
In applying those rules to an entity that is a ^* member of a ^* consolidated group:

(a) Division 208 is to be applied before those rules; and

(b) that Division is to be applied just after the entity became a member of the group but, for a ^* subsidiary member, it is to be applied on the assumption that the subsidiary was not a member of the group at that time.

709-155(4)    
Except as mentioned in paragraph (3)(b), Division 208 has no application to a ^* subsidiary member of a ^* consolidated group.