Income Tax Assessment Act 1997
The annual global income of an entity for a period is:
(aa) if the entity is a *member of a *notional listed company group - the total annual income of all the members of the group (worked out on the assumption that all members of the group were consolidated for accounting purposes as a single group); or
(a) if paragraph (aa) does not apply and the entity is a member of a group of entities that are consolidated for accounting purposes as a single group - the total annual income of all the members of the group; or
(b) otherwise - the total annual income of the entity;
as shown in the latest *global financial statements for the entity for the period.
Subsection (3) applies if:
(a) *global financial statements have not been prepared for the entity for the period; or
(b) global financial statements have not been prepared for the entity for the period that show the total annual income mentioned in subsection (1).
Despite subsection (1), the annual global income of the *entity for the period is the amount that would be, on the assumption that such statements had been prepared, the total annual income mentioned in subsection (1) shown in those statements.
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