New Business Tax System (Consolidation and Other Measures) Act 2003 (16 of 2003)

Schedule 14   Consolidation: liability rules

Taxation Administration Act 1953

12   At the end of subsection 250-10(2) in Schedule 1 (after the note)

Add:

Note 2: Members and former members of consolidated groups and MEC groups may be jointly and severally liable to pay certain tax-related liabilities related to the group's activities (see Division 721 of the Income Tax Assessment Act 1997).