Tell us about consolidated entities
When clients form an income tax consolidated group or a multiple entry consolidated (MEC) group, it’s important that you notify us.
Forming a consolidated group or an MEC
The easiest way to tell us that a client has formed an income tax consolidated group or an MEC group is by:
- lodging via the electronic lodgment service (ELS), and
- attaching Schedule BN to the head company’s first company tax return.
Once a head company chooses to consolidate, that choice cannot be revoked and the date of consolidation cannot be changed.
Converting to an MEC group
You need to let us know when an income tax consolidated group has converted to an MEC group.
The quickest way to notify us is by:
When sending to us via portal Mail, use the:
- Subject: Registrations
- Topic: Consolidation registration enquiry
- Include: the relevant form.
When to tell us
We need to be notified about these changes either – by the date:
- the head company lodges its income tax return for the income year that consolidation occurred, or
- the income tax return would normally be due if the head company does not need to lodge a return.
There are several rules you need to follow when your clients form an income tax consolidated group or a multiple entry consolidated (MEC) group.