Income Tax Assessment Act 1936

Div 3 heading inserted by No 172 of 1978.

S 73BAD repealed by No 93 of 2011, s 3 and Sch 3 item 44, effective 8 September 2011.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 73BAD formerly read:

SECTION 73BAD EXPENDITURE FOR PURPOSES OF SECTIONS 73P TO 73Z HISTORY: LEAVING ENTITY  
73BAD(1)
For the purposes of sections 73P to 73Z (inclusive), where a company (the leaving company ) ceases to be a member of a consolidated group or MEC group, those provisions have effect after the leaving company ceased to be a member as if:

(a) any expenditure actually incurred by the leaving company while it was a member of the group had been incurred by it rather than by any other member of the group; and

(b) any amounts the head company of the group has deducted or can deduct for that expenditure had been deducted by the leaving company.

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History

S 73BAD(1) amended by No 164 of 2007 , s 3 and Sch 11 item 14, by substituting " expenditure " for " incremental expenditure (see section 73P ) " in para (a), effective 25 September 2007. For application provision, see note under s 73B(1AAA) .

73BAD(2)
Subsection (1) has effect before any application of subsection 73R(3) or (4) (exceptions to R & D membership period rules).

Note:

This provision overrides section 701-40 of the Income Tax Assessment Act 1997 (the consolidation exit history rule) for the purposes of the sections 73P to 73Z (inclusive) of this Act.

S 73BAD amended by No 164 of 2007 , s 3 and Sch 11 item 15, 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 73BAD inserted by No 117 of 2002.