New Business Tax System (Integrity and Other Measures) Act 1999 (Incorporating amendments up to Act No. 78 of 2001) (169 of 1999)
Schedule 1 Disposal of leases and leased plant
Income Tax Assessment Act 1997
2 Subsection 9-5(1) (before item 1A)
Insert:
|
1AA |
A company that was a member of a wholly-owned group is jointly and severally liable to pay an amount of income tax if a former subsidiary in the group is treated as having disposed of leased plant and does not pay all of the income tax resulting from that treatment. |
section 45-25 |