Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 719 - MEC groups  

Subdivision 719-T - Interactions between this Part and other areas of the income tax law: special rules for MEC groups  

How Subdivision 165-CC applies to MEC groups

SECTION 719-700   Changeover times under section 165-115C or 165-115D  

719-700(1)    
This section has effect for the purposes of determining whether a time (the test time ) is a * changeover time under section 165-115C (about changes in ownership) or 165-115D (about changes in control) in respect of the * head company of a * MEC group.

Modified meaning of reference time

719-700(2)    
The reference time is:


(a) if no * changeover time has occurred in respect of the head company since the group came into existence and before the test time - when the group came into existence; or


(b) otherwise - the time just after the last such changeover time.

719-700(3)    
Subsection (2) of this section has effect despite subsection 165-115A(2A).

Assumptions to make

719-700(4)    
Assume that, while the * MEC group exists:


(a) the * top company for the group holds and beneficially owns all the * membership interests in the * head company (instead of whoever actually does); and


(b) those membership interests remain the same; and


(c) the top company directly controls the voting power in the head company.



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.