Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 715 - Interactions between this Part and other areas of the income tax law  

Subdivision 715-A - Treatment of unrealised losses existing when ownership or control of a company changes before or during consolidation  

Effect on Subdivision 165-CC of entity leaving consolidated group

SECTION 715-90   How business continuity test applies if leaving time is changeover time for leaving company  

715-90(1)    
This section applies if:


(a) the leaving entity is a company; and


(b) the leaving time is a * changeover time for the leaving entity.

715-90(2)    


In applying to the leaving entity for the * changeover time that is the leaving time, subsection 165-115B(3) and paragraph 165-115BA(5)(c) have effect as if they provided that the time just after the changeover time were the test time for applying section 165-13 to the company.
Note:

This ensures that the business continuity test is applied to the business that the leaving entity carries on at the leaving time.



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