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 715-925  

715-925   Effect on restructures - original entity ceases being a subsidiary member  
If, as a result of an *arrangement to which section 124-784A applies, an original entity (within the meaning of that section):

(a) ceases to be a *subsidiary member of a *consolidated group after the completion time (within the meaning of that section) for the arrangement; and

(b) does not become a member of another consolidated group;

then, for the purposes of section 124-784B , the completion time for the arrangement is taken to happen at the time of the cessation.

Note:

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

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History

S 715-925 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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