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.


 

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