Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where, during the reorganisation, the transferring body transfers property to a body corporate (in this section called the group company ) that is, at the time of the transfer, a new group company, subsections ( 2) and (3) have effect for the purposes of section 25A of the Tax Act.
(2) The transfer shall be disregarded.
(3) In relation to a time at or after the transfer, the group company shall be deemed to be, and the transferring body shall be deemed not to be, the same body as the body that owned the property immediately before the transfer.