Income Tax Assessment Act 1997



Division 615 - Roll-overs for business restructures  

Subdivision 615-B - Further requirements for choosing to obtain roll-overs  

SECTION 615-30   Interposed company must make a particular choice  

Unless subsection (2) applies, the interposed company must choose that section 615-65 applies.

The interposed company must choose that a *consolidated group continues in existence at and after the completion time with the interposed company as its *head company, if:

(a) immediately before the completion time, the consolidated group consisted of the original entity as head company and one or more other members (the other group members ); and

(b) immediately after the completion time, the interposed company is the head company of a *consolidatable group consisting only of itself and the other group members.


Sections 703-65 to 703-80 deal with the effects of the choice for the consolidated group.

A choice under subsection (1) or (2) must be made:

(a) within 2 months after the completion time, if the choice is under subsection (1); or

(b) within 28 days after the completion time, if the choice is under subsection (2); or

(c) within such further time as the Commissioner allows.

The choice cannot be revoked.

The way the interposed company prepares its *income tax returns is sufficient evidence of the making of the choice.


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