Income Tax Assessment Act 1997
SECTION 715-675 Head company adopting choice with ongoing effect 715-675(1)
This section has effect, despite section 715-670 , if:
(a) an entity that becomes a * member of a * consolidated group had a choice (however described) in effect under a provision (the choice provision ) listed in that section before becoming a member of the group; and
(b) the time at which the entity becomes a member of the group is the first time at which an entity that had a choice (however described) in effect under the choice provision before becoming a member of the group became a member of the group; and
(c) the * head company of the group chooses in writing, before:
(i) the end of 90 days after the Commissioner is given notice under Division 703 that the entity has become a member of the group; or
to be treated as if the head company had made a choice under the choice provision.
(ii) a later time allowed by the Commissioner;
715-675(2)
The * head company is taken to have made a choice under the choice provision for these purposes:
(a) the head company core purposes set out in section 701-1 (Single entity rule);
(b) the purposes of the application of section 715-670 and paragraph (1)(a) in relation to another * consolidated group of which the company later becomes a * subsidiary member.
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