Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 713 - Rules for particular kinds of entities  

Subdivision 713-L - Life insurance companies  

Imputation rules for life insurance companies joining consolidated group

SECTION 713-550  

713-550   Treatment of head company ' s franking account after joining  

Sections 709-70 and 709-75 do not apply in relation to a ^* subsidiary member of a ^* consolidated group if:

(a) the subsidiary member is a ^* life insurance company; or

(b) a life insurance company that is a ^* member of the group owns ^* membership interests, either directly or indirectly through one or more interposed entities, in the subsidiary member.