INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 709 - Other rules applying when entities become subsidiary members etc.  

Subdivision 709-B - Imputation issues  

Operative provisions

SECTION 709-155   Testing consolidated groups  

709-155(1)  
To determine whether a * consolidated group is an * exempting entity or * former exempting entity, the tests in Division 208 are applied to the * head company of the group.

709-155(2)  
However, there are some additional rules that can alter the way that Division 208 applies to a * consolidated group. These are set out in sections 709-160 to 709-175 .

709-155(3)  
In applying those rules to an entity that is a * member of a * consolidated group:


(a) Division 208 is to be applied before those rules; and


(b) that Division is to be applied just after the entity became a member of the group but, for a * subsidiary member, it is to be applied on the assumption that the subsidiary was not a member of the group at that time.

709-155(4)  
Except as mentioned in paragraph (3)(b), Division 208 has no application to a * subsidiary member of a * consolidated group.


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