Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 719 - MEC groups  

Subdivision 719-B - MEC groups and their members  

Notice of events affecting group

SECTION 719-80   Notice of events affecting MEC group  

719-80(1)    
If an event (the notifiable event ) described in column 2 of an item of the table happens in relation to a ^* MEC group, the entity described in column 3 of the item must give the Commissioner notice in the ^* approved form of the notifiable event.

Graphic

Graphic

Notice of events
Column 1	Column 2	Column 3
Item	If this event happens:	Notice must be given by:
1.	An entity becomes a member of a *MEC group	The *provisional head company of the group
2.	An entity ceases to be a member of a MEC group	The provisional head company of the group
3.	A *cessation event happens to the *provisional head company of a MEC group	The company, or the person (if any) who was its public officer just before it ceased to exist if the company ceased to be the provisional head company because it ceases to exist

719-80(2)    
The entity described in column 3 of the relevant item must give notice of the notifiable event:

(a) if:

(i) the group came into existence because of a choice under section 719-50 ; and

(ii) the notifiable event happens before the relevant notice is given to the Commissioner under section 719-76 (notice of choice to consolidate);

no later than the day mentioned in subsection (3); or

(b) if:

(i) the group results from a ^* special conversion event; and

(ii) a choice under section 703-50 is made in relation to the ^* consolidated group mentioned in paragraph 719-40(1)(b) ; and

(iii) the notifiable event happens before the relevant notice is given to the Commissioner under section 703-58 (notice of choice to consolidate);

no later than the day mentioned in subsection (3); or

(c) in any other case - within 28 days after the notifiable event.

719-80(3)    

The day is:

(a) if the entity is required to give the Commissioner its *income tax return for the income year during which the notifiable event happens - the day on which the company gives the Commissioner that income tax return; or

(b) otherwise - the last day in the period within which the entity would be required to give the Commissioner such a return if it were required to give the Commissioner such a return.