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-T - Interactions between this Part and other areas of the income tax law: special rules for MEC groups  

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History

Subdiv 719-T inserted by No 16 of 2003, s 3 and Sch 7 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 ).

Cancelling loss on realisation event for direct or indirect interest in a subsidiary member of a MEC group

SECTION 719-785  

719-785   Exception for interests in top company  

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The first condition in section 719-775 cannot be satisfied, because of a ^* MEC group, at a time when:

(a) the first entity was the ^* top company for the MEC group; or

(b) the realised interest was an ^* indirect equity or loan interest in the top company for the MEC group.

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History

S 719-785 inserted by No 16 of 2003, s 3 and Sch 7 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 ).

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