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 713 - Rules for particular kinds of entities  

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Div 713 inserted by No 117 of 2002, s 3 and Sch 5 item 6, 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 713-C - Some unit trusts treated like head companies of consolidated groups  

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Subdiv 713-C inserted by No 83 of 2004.

SECTION 713-120   What this Subdivision is about  

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A public trading trust can sometimes choose to form a consolidated group and be treated like a company and head company of the group. The treatment affects the trust, the trustee and other entities connected with the trust (such as members of the trust and entities the trustee holds membership interests in).

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S 713-120 amended by No 53 of 2016, s 3 and Sch 5 item 53, by omitting " corporate unit trust or " before " public trading trust " , applicable to assessments for income years starting on or after 1 July 2016. For transitional provision, see note under s 295-173 .

S 713-120 inserted by No 83 of 2004.

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