Taxation Administration Act 1953
SCHEDULE 1
-
COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
If:
(a) an amount is required to be worked out for the purpose of determining the *instalment income of an entity that is a *member of a *consolidated group for a period that is all or a part of a *consolidation transitional year for the entity; and
(b) the period ends before Subdivision 45-Q starts to apply, because of subsection 45-705(2) or subparagraph 45-705(3)(c)(ii) , (4)(d)(ii) or (iv) , to the *head company of the group;
Note: See section 3AA .
Chapter 2 - Collection, recovery and administration of income tax
PART 2-10
-
PAY AS YOU GO (PAYG) INSTALMENTS
Division 45
-
Instalment payments
Subdivision 45-R
-
Special rules for consolidated groups
Operative provisions
SECTION 45-855
45-855
SECTION 701-1 DISREGARDED FOR CERTAIN PURPOSES
If:
(a) an amount is required to be worked out for the purpose of determining the *instalment income of an entity that is a *member of a *consolidated group for a period that is all or a part of a *consolidation transitional year for the entity; and
(b) the period ends before Subdivision 45-Q starts to apply, because of subsection 45-705(2) or subparagraph 45-705(3)(c)(ii) , (4)(d)(ii) or (iv) , to the *head company of the group;
that amount must be worked out without regard to any application of section 701-1 of the Income Tax Assessment Act 1997 to the entity in relation to the period.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.