S 73BAC repealed by No 93 of 2011, s 3 and Sch 3 item 44, effective 8 September 2011. For application, savings and transitional provisions see note under s
82KZLB
. S 73BAC formerly read:
SECTION 73BAC EXPENDITURE HISTORY FOR PURPOSES OF SECTIONS 73P TO 73Z: JOINING ENTITY
73BAC(1)
For the purposes of sections
73P
to
73Z
(inclusive), where a company (the
joining company
) becomes a member of a consolidated group or MEC group, those provisions have effect after the joining company became a member as if:
(a)
any expenditure incurred by the joining company before it became a member had been incurred by the head company of the group; and
(b)
any amounts the joining company has deducted or can deduct for that expenditure had been deducted by the head company; and
(c)
the head company of the group had received any recoupments of, or grants in respect of, that expenditure that the joining company of a person grouped with it under section
73L
received, or became entitled to receive, before the joining company became a member of the group.
History
S 73BAC(1) amended by
No 164 of 2007
, s 3 and Sch 11 items 11 and 12, by substituting
"
expenditure
"
for
"
incremental expenditure (see section
73P
)
"
and inserting para (c), effective 25 September 2007. For application provision, see note under s
73B(1AAA)
.
73BAC(2)
Subsection (1) has effect after any application of subsection
73R(3) or (4)
(exceptions to R
&
D membership period rules).
Note:
This provision overrides section
701-5
of the
Income Tax Assessment Act 1997
(the consolidation entry history rule) for the purposes of sections
73P
to
73Z
(inclusive) of this Act.
Former s 73BAC amended by
No 164 of 2007
, s 3 and Sch 11 item 13, by substituting
"
sections 73P to 73Z (inclusive) of this Act
"
for
"
the incremental expenditure provisions
"
in the note, effective 25 September 2007. For application provision, see note under s
73B(1AAA)
.
S 73BAC inserted by No 117 of 2002.
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