MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-7 - ENTITIES  

Division 215 - Consolidated groups  

Operative provisions  

SECTION 215-35  

215-35   ACQUISITION OF CONSOLIDATED GROUP BY ANOTHER CONSOLIDATED GROUP ETC.  
If a * member of a * consolidated group or * MEC group (the relinquishing group ) becomes a member of another consolidated group or MEC group (the acquiring group ) at a particular time (the acquisition time ):


(a) first apply section 215-25 or 215-30 (as the case requires) in relation to the member ceasing to be a member of the relinquishing group as if section 215-15 (the single entity rule) did not apply in relation to the member just after the acquisition time; and


(b) then apply section 215-20 in relation to the member becoming a member of the acquiring group as if section 215-15 (the single entity rule) did not apply in relation to the member just before the acquisition time.




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