Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 717 - International tax rules  

Subdivision 717-D - Transfer of certain surpluses under CFC provisions and former FIF and FLP provisions: entry rules  

Transfers

SECTION 717-227   Deferred attribution credits  

717-227(1)  
This section operates for the purposes of Part X of the Income Tax Assessment Act 1936 if:


(a) a company (the joining company ) becomes a * subsidiary member of a * consolidated group at a time (the joining time ); and


(b) assuming the joining company had not done so, an attribution credit would have arisen under subsection 371(8) of that Act at a later time for an attribution account entity in relation to the joining company for the purposes of that Part. Credit in relation to the head company

717-227(2)  
The attribution credit arises instead at the later time for the attribution account entity in relation to the * head company of the group.


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