Income Tax Assessment Act 1997
This Part allows certain groups of entities to be treated as single entities for income tax purposes.
Following a choice to consolidate, subsidiary members are treated as part of the head company of the group rather than as separate income tax identities. The head company inherits their income tax history when they become subsidiary members of the group. On ceasing to be subsidiary members, they take with them an income tax history that recognises that they are different from when they became subsidiary members.
This is supported by rules that: