Income Tax Assessment Act 1997



Division 715 - Interactions between this Part and other areas of the income tax law  

Subdivision 715-B - How Subdivision 165-CD applies to consolidated groups and leaving entities  

How Subdivision 165-CD applies to consolidated groups

SECTION 715-215   Extension of single entity rule and entry history rule  

Subsection 701-1(1) (Single entity rule) and section 701-5 (Entry history rule) also have effect for all the purposes of Subdivision 165-CD (about reductions after alterations in ownership or control of loss company).


One consequence of this is that the head company is the only member of a consolidated group that can have an alteration time and be subject to reductions or other consequences under Subdivision 165-CD . The head company is treated as owning all CGT assets owned by group members, and as making relevant losses.

Another consequence is for working out who has a relevant equity interest or relevant debt interest in a company that has an alteration time at which it is a loss company but not a member of a consolidated group. Interests in the loss company that are owned by subsidiary members of the group are treated as being owned by the head company.

This section is not intended to limit the effect that subsection 701-1(1) and section 701-5 have apart from this section.

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.