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.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.