New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 (117 of 2002)
Schedule 2 Consolidation: group continues when shelf company becomes new head company
Income Tax Assessment Act 1997
2 At the end of section 124-360
Add:
(2) You are taken to have chosen to obtain the roll-over if:
(a) immediately before the time referred to in section 124-365 as the completion time, the original company is the*head company of a*consolidated group; and
(b) immediately after the completion time, the interposed company is the head company of the group.
Note: The consolidated group continues in existence because of section 703-70.
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