Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 719 - MEC groups  

Subdivision 719-B - MEC groups and their members  

Head company

SECTION 719-75   Head company  

Group in existence throughout income year

719-75(1)    
If:

(a) a company is the ^* provisional head company of a ^* MEC group at the end of the income year of the company; and

(b) the group was in existence throughout the income year;

the company is the head company of the group at all times during the income year.

Group comes into existence in income year

719-75(2)    
If:

(a) a company is the ^* provisional head company of a ^* MEC group at the end of the income year of the company; and

(b) the group is in existence at the end of the income year; and

(c) the group came into existence in the income year;

that company is the head company of the group at all times during the period:

(d) beginning when the group came into existence; and

(e) ending at the end of the income year.

Group ceases to exist in income year

719-75(3)    
If:

(a) a ^* MEC group ceases to exist in an income year of a company; and

(b) the company was the ^* provisional head company of the group immediately before the group ceased to exist;

that company is the head company of the group at all times during the period:

(c) beginning at whichever is the later of:

(i) the start of the income year; and

(ii) the time the group came into existence; and

(d) ending at the time when the group ceased to exist.