Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Unless subsection (2) applies, the interposed company must choose that section 615 - 65 applies.
(2) 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.
Note: Sections 703 - 65 to 703 - 80 deal with the effects of the choice for the consolidated group.
(3) 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.
(4) The way the interposed company prepares its * income tax returns is sufficient evidence of the making of the choice.