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 719 - MEC groups  

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History

Div 719 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 ).

Subdivision 719-K - MEC group cost setting rules: pooling cases  

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Subdiv 719-K inserted by No 117 of 2002, s 3 and Sch 8 item 8, 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 719-560   Pooled interests  

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719-560(1)    
A pooled interest in an ^* eligible tier-1 company that is a member of a ^* MEC group is a ^* membership interest in the eligible tier-1 company that is held by an entity that is not a member of the group.

Note:

A membership interest in the head company of a MEC group can be a pooled interest.

719-560(2)    
Despite subsection (1), a ^* membership interest is not a pooled interest if it is:

(a) a ^* share that is disregarded under subsection 719-30(2) ; or

(b) held by an entity only as a nominee of one or more other entities each of which is a member of the group.

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History

S 719-560 inserted by No 117 of 2002, s 3 and Sch 8 item 8, 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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