INCOME TAX ASSESSMENT ACT 1997 (ARCHIVE)

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 820 - Thin capitalisation rules  

Subdivision 820-EA - Some financial entities may choose to be treated as ADIs  

SECTION 820-445 (ARCHIVE)   How this Subdivision interacts with Subdivision 820-FA  

Subdivision 820-F

820-445(1)    
A choice under section 820-430 does not affect how section 820-550 (Classification of the resident TC group) applies to a *resident TC group for an income year unless the group could have made a choice under section 820-430 covering the whole of that income year if:

(a) the group had been a company throughout the income year; and

(b) each entity in the group had been a division or part of that company, rather than a separate entity, at all times during the income year when the entity was in the group.

Note:

To work out the times during the income year when an entity was in the group, see section 820-530 .

820-445(2)    
A choice under section 820-430 does not have effect for so much of a period as happens while the entity is in a *resident TC group for an income year if, apart from the choice, section 820-575 would apply Subdivision 820-E to the group for that income year as if the group were an *inward investing entity (ADI).