New Business Tax System (Consolidation) Act (No. 1) 2002 (68 of 2002)

Schedule 5   Amendments of Dictionary

Income Tax Assessment Act 1997

8   Subsection 995-1(1)

Insert:

consolidation transitional year , for a *member of a *consolidated group, is an income year for that member:

(a) during all or any part of which the consolidation of the group has effect; and

(b) to which either of the following applies:

(i) during that year the Commissioner gives the *head company of the group its *initial head company instalment rate;

(ii) that year ends before the Commissioner gives the head company that rate.