Income Tax Assessment Act 1997



Division 703 - Consolidated groups and their members  

Choice to consolidate a consolidatable group  

SECTION 703-50   Choice to consolidate a consolidatable group  


A company may make a choice in writing that a * consolidatable group is taken to be consolidated on and after a day that is specified in the choice and is after 30 June 2002, if the company was the * head company of the group on the day specified.

The head company of the group must give the Commissioner a notice in the approved form containing information about the group (see sections 703-58 and 703-60 ).

Choice is irrevocable

The choice cannot be revoked, and the specification of the day cannot be amended, after the choice is made under subsection (1).


The choice can be made no later than:

(a) if the company is required to give the Commissioner its *income tax return for the income year during which the specified day mentioned in subsection (1) occurs - the day on which the company gives the Commissioner that income tax return; or

(b) otherwise - the last day in the period within which the company would be required to give the Commissioner such a return if it were required to give the Commissioner such a return.

Choice has no effect after consolidated group ceases to exist

The choice does not have effect after the * consolidated group that came into existence because of the choice ceases to exist. To avoid doubt, this subsection does not prevent the choice from:

(a) being made by the company at a time when it is not a head company; or

(b) having effect in relation to a time before the consolidated group ceased to exist, even if that time is before the choice is made.

(Repealed by No 56 of 2010)

(Repealed by No 56 of 2010)

Choice does not have effect if company is a member of a MEC group

The choice does not have effect (and is taken not to have had effect) if, on the day specified, the company was a member of a * MEC group.


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