INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
This section applies to a taxpayer if:
(a) the taxpayer becomes a member of a consolidated group or MEC group on the day (the consolidation day ) the group comes into existence; and
(b) the consolidation day either is before 1 July 2003 or is both:
(i) the first day of the first year of income starting after 30 June 2003 of the group's head company (for a consolidated group) or provisional head company (for a MEC group) on the consolidation day; and
(ii) before 1 July 2004; and
(c) the taxpayer was not a member of a consolidated group or MEC group before the consolidation day.
View history note
Hide history noteSections 46 and 46A do not apply to the unfranked part of a dividend paid to the taxpayer on or after the consolidation day.
46AC(3) [Interpretation]In this section:
consolidated group
has the same meaning as in the
Income Tax Assessment Act 1997
.
head company
has the same meaning as in the
Income Tax Assessment Act 1997
.
MEC group
has the same meaning as in the
Income Tax Assessment Act 1997
.
provisional head company
has the same meaning as in the
Income Tax Assessment Act 1997
.
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