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 716 - Miscellaneous special rules  

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Div 716 inserted by No 117 of 2002, s 3 and Sch 1 item 3, 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 716-V - Research and Development  

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Subdiv 716-V inserted by No 93 of 2011, s 3 and Sch 3 item 105, effective 8 September 2011. For application, savings and transitional provisions see note under Div 355 heading.

SECTION 716-505  

716-505   History for entitlement to tax offset: joining entity  

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If:

(a) a company becomes a *subsidiary member of a *consolidated group; and

(b) apart from this section, things happening in relation to the company before it became a subsidiary member would, because of section 701-5 (the entry history rule), be taken into account as things happening in relation to the *head company for working out the head company's *aggregated turnover for the purposes of section 355-100 (tax offsets for R & D);

the things happening are not to be taken into account as mentioned in paragraph (b).

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History

S 716-505 inserted by No 93 of 2011, s 3 and Sch 3 item 105, effective 8 September 2011. For application, savings and transitional provisions see note under Div 355 heading.

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