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

Subdivision 715-W - Effect on arrangements where CGT roll-overs are obtained  

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Subdiv 715-W inserted by No 14 of 2009, s 3 and Sch 1 item 4, effective 26 March 2009. For application provision, see note under s 112-53 .

SECTION 715-915  

715-915   Effect on restructures - original entity is a head company  
If:

(a) section 124-784A applies in relation to an *arrangement; and

(b) the original entity (within the meaning of that section) for the arrangement is the *head company of a *consolidated group just before the arrangement was completed; and

(c) section 715-920 does not apply;

then, for the purposes of section 124-784B , subsection 701-1(1) (the single entity rule) and section 701-5 (the entry history rule) apply in respect of the group.

Note 1:

This section does not otherwise affect the application of subsection 701-1(1) or section 701-5 .

Note 2:

Sections 124-784A and 124-784B apply to arrangements for restructures.

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History

S 715-915 inserted by No 14 of 2009, s 3 and Sch 1 item 4, effective 26 March 2009. For application provision, see note under s 112-53 .

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