Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 820 - Thin capitalisation rules  

Subdivision 820-FA - How the thin capitalisation rules apply to consolidated groups and MEC groups  

Operative provisions

SECTION 820-581  

820-581   How this Division applies to head company for income year in which group comes into existence or ceases to exist  

If a *consolidated group or *MEC group:

(a)    comes into existence at a time during an income year that is not the start of the income year; or

(b)    ceases to exist at a time during an income year that is not the end of the income year;

then, for each of the following periods during that income year:

(c)    a period throughout which a company is the *head company of that group; or

(d)    a period throughout which that company is the head company of a different consolidated group or MEC group; or

(e)    a period throughout which that company is a *member of no consolidated group or MEC group;

this Division (except this section) is to have either:

(f)    a single application in relation to the whole of the period; or

(g)    2 or more applications, each in relation to a part of that period.