Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

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History

Part 3-90 inserted by No 68 of 2002, s 3 and Sch 1 item 2, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Division 703 - Consolidated groups and their members  

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History

Div 703 inserted by No 68 of 2002, s 3 and Sch 1 item 2, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Effects of choice to continue group after shelf company becomes new head company  

SECTION 703-65  

703-65   Application  

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Sections 703-70 to 703-80 set out the effects if a company (the interposed company ) chooses under subsection 615-30(2) that a ^* consolidated group is to continue in existence at and after the time referred to in that subsection as the completion time.

Note:

The choice is one of the conditions for a compulsory roll-over under Division 615 on an exchange of shares in the head company of a consolidated group for shares in the interposed company.

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S 703-65 amended by No 133 of 2014, s 3 and Sch 1 items 15 and 16, by substituting " subsection 615-30(2) " for " subsection 124-380(5) " and " Division 615 " for " Subdivision 124-G " in the note, applicable in relation to shares or units disposed of, redeemed or cancelled at or after 7.30 pm, by legal time in the Australian Capital Territory, on 10 May 2011.

S 703-65 inserted by No 117 of 2002, s 3 and Sch 2 item 10, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

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