INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 721 - Liability for payment of tax where head company fails to pay on time  

Subdivision 721-A - Application of Division  

SECTION 721-25   References in tax sharing agreements to former table item 25  

721-25(1)  
A reference in an agreement to item 25 of the table in subsection 721-10(2) of the Income Tax Assessment Act 1997 is taken, from the commencement of this section, to be a reference to item 3 of that table, if:


(a) paragraph 721-25(1)(a) of that Act applies to the agreement; and


(b) the agreement was in force just before the commencement of this section.

721-25(2)  
This section applies in relation to tax to which Division 5 of the Income Tax Assessment Act 1997 applies.




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