Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 5   Consolidation

Part 18   Choice to consolidate

Income Tax Assessment Act 1997

178   Subsection 719-50(3)

Repeal the subsection, substitute:

(3) A choice can be made no later than:

(a) if the company mentioned in subsection (3A) is required to give the Commissioner its *income tax return for the income year during which that day occurs - the day on which that company gives the Commissioner that income tax return; or

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

(3A) The company is:

(a) in a case where subsection 719-75(1) or (2) applies - the company that will be the *head company of the group as at the end of the income year; and

(b) in a case where subsection 719-75(3) applies - the company that will be the head company of the group immediately before the group ceased to exist.