INCOME TAX ASSESSMENT ACT 1997 (ARCHIVE)
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Hide history noteSECTION 820-510 (ARCHIVE) Multiple groups 820-510(1)
The second choice is to treat the eligible companies referred to in section 820-505 as forming one or more resident TC groups for the income year, on the basis that each resident TC group consists of:
(a) one or more subgroups constructed under subsection (3) of this section; and
(b) each partnership and trust that section 820-515 includes in the resident TC group; and
(c) each *Australian permanent establishment of a *foreign bank that section 820-515 includes in the resident TC group.
820-510(2)
However, a resident TC group under subsection (1) can consist of or include 2 or more subgroups constructed under subsection (3) only if:
(a) each company in the 2 or more subgroups is at the end of the income year a *100% subsidiary of the same company (the link company ) in the *maximum TC group; and
(b) for each company in the 2 or more subgroups, the income year ends on the same day; and
(c) the resident TC group includes every company:
(i) that is a *100% subsidiary of the link company at the end of the income year; and
(ii) that meets the conditions in subsection 820-505(3) at the end of the income year; and
(iii) for which the income year ends on that same day.
820-510(3)
A subgroup constructed under this subsection consists of:
(a) an entity (the node entity ) that:
(i) is in the *maximum TC group; and
(ii) meets the conditions in subsection 820-505(3) at the end of the income year; and
(iii) is a *100% subsidiary of no other entity in the maximum TC group that meets those conditions at the end of the income year; and
(b) each 100% subsidiary (if any) of the node entity:
(i) that meets those conditions at the end of the income year; and
(ii) for which the income year ends on the same day as for the node entity.
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