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 705 - Tax cost setting amount for assets where entities become subsidiary members of consolidated groups  

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History

Div 705 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 ).

Subdivision 705-D - Where multiple entities are linked by membership interests  

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History

Subdiv 705-D inserted by No 117 of 2002, s 3 and Sch 4 item 4, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Modified application of Subdivision 705-A

SECTION 705-220   Subdivision 705-A has effect with modifications  

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705-220(1)    
Subdivision 705-A has effect in relation to each linked entity becoming a ^* subsidiary member of the ^* consolidated group in the same way as that Subdivision operates in relation to an entity becoming a subsidiary member of a consolidated group in circumstances covered by that Subdivision.

705-220(2)    
However, that effect of Subdivision 705-A is subject to modifications set out in this Subdivision.

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History

S 705-220 inserted by No 117 of 2002, s 3 and Sch 4 item 4, 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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