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 715 - Interactions between this Part and other areas of the income tax law  

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History

Div 715 inserted by No 16 of 2003 (see s 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Subdivision 715-C - Common rules for the purposes of Subdivisions 715-A and 715-B  

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History

Subdiv 715-C inserted by No 16 of 2003, s 3 and Sch 7 item 1, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

SECTION 715-290  

715-290   Additional assumptions to be made when using reference time  

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The additional assumptions to be made are that, throughout the period starting at the reference time and ending just before the leaving time:

(a) the leaving entity was in existence; and

(b) the ^* head company held and beneficially owned all the ^* membership interests in the leaving entity (instead of whoever actually did); and

(c) those membership interests remained the same; and

(d) the head company directly controlled the voting power in the leaving entity.

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History

S 715-290 inserted by No 16 of 2003, s 3 and Sch 7 item 1, 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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