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.