INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 701 - Core rules  

Head company rules  

SECTION 701-5   701-5   Entry history rule  


For the head company core purposes in relation to the period after the entity becomes a * subsidiary member of the group, everything that happened in relation to it before it became a subsidiary member is taken to have happened in relation to the * head company.
Note 1:

Other provisions of this Part may affect the tax history that is inherited (e.g. asset cost base history is affected by section 701-10 and tax loss history is affected by Division 707 ).

Note 3:

Section 165-212E overrides this rule for the purposes of the business continuity test.


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