INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 715 - Interactions between the consolidation rules and other areas of the income tax law  

Subdivision 715-K - Exit history rule and choices  

SECTION 715-699   Extension of time for making choice if leaving time was before commencement  

715-699(1)  
This section extends the time given by each of the following provisions of the Income Tax Assessment Act 1997 for making a choice because an entity ceases to be a subsidiary member of a consolidated group at the leaving time, if the leaving time is before the commencement of the provision:


(a) subsection 715-700(5) ;


(b) subsection 715-705(6) .

715-699(2)  
A reference in each of those provisions to the end of 90 days after the leaving time has effect as if it were a reference to the end of 90 days after the commencement of the provision.




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