Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-90
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CONSOLIDATED GROUPS
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.
Division 716
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Miscellaneous special rules
Subdivision 716-Z
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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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