Elections

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End of attention

Where entities become subsidiary members of a consolidated group and where members leave a group subdivisions 715-J and 715-K of the ITAA 1997 deal with elections made in relation to Part X (the CFC measures) of the ITAA 1936.

Subdivision 715-J ensures that the entry history rule does not adversely affect the head company's ability to make elections in relation to its interests in CFCs. Similarly, subdivision 715-K ensures the exit history rule does not adversely affect the leaving entity's ability to make elections in relation to its interests in CFCs that it takes with it on exit.