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  • Consolidated corporate groups form and schedule

    Eligible wholly owned corporate groups can consolidate to form a single entity for income tax purposes.

    A consolidated group consists of one or more subsidiary members and the head company that is responsible for payment of income tax and PAYG instalments for the group.

    The head company must notify us of the decision to consolidate, including the date of consolidation, details of the head company and all subsidiary members. See Notification of formation of an income tax consolidated group.

    If subsidiary members join or leave the consolidated group, the head company must notify us of the changes. See Notification of members joining or leaving the group.

    A Consolidated group losses schedule will also need to be completed if one or more tests are met.

    Notification of formation of an income tax consolidated group

    The notification schedule can be used for two purposes:

    • It can be lodged with the head company’s first tax return to provide details of the formation of the group – the schedule will also be attached to Notification of members joining and/or leaving the group to report changes in membership.
    • As the initial notification of the formation of a consolidated group
      • the schedule is lodged with the first tax return for the group
      • when used for this purpose, it can only be submitted once in the life of the group
      • the start date of consolidation can be any date within the income year of the tax return being lodged
      • the schedule cannot be used to notify consolidation in a future income year.
       

    Form for notifying members joining or leaving the group

    Once the consolidated group has been established and the initial notification lodged, the head company must report all changes in membership.

    The head company must notify the ATO of new eligible members joining or leaving the group, within 28 days. To do this, the head company must complete Notification of members joining and/or leaving the group and Notification of formation of a consolidated group.

    You do not need to list the existing members of the group, only those whose membership details have changed.

    If a member is exiting due to deregistration, you should ensure the subsidiary member has been formally deregistered by the Australian Securities and Investments Commission (ASIC) before lodging the form to remove the member.

    There is no limit to the number of subsidiary members' joining or leaving details that can be included on the schedule. Even if all subsidiary members exit, the group will continue to exist if the head company continues to fulfil the requirements to be the head company of a consolidated group.

    Consolidated groups losses schedule

    For information on this schedule. See Consolidated groups losses schedule instructions.

      Last modified: 24 Jun 2021QC 49409