Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 716 - Miscellaneous special rules  

Subdivision 716-Z - Other  

SECTION 716-800   Allocating amounts to periods if head company and subsidiary member have different income years  

716-800(1)  
The principles in this section apply if:


(a) an entity becomes, or stops being, a * subsidiary member of a * consolidated group; and


(b) the entity has an income year that starts and ends at a different time from when the income year of the * head company of the group starts and ends.

716-800(2)  
Items are to be allocated to, or apportioned among, periods (whether consisting of all or part of an income year of the entity or * head company):


(a) in the most appropriate way having regard to the objects of this Part, and of particular provisions of this Part; and


(b) in particular, so as to ensure that what is in substance the same item is recognised only once for what is in substance the same purpose.


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