Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 703.1

A consolidated group and a consolidatable group each consists of a head company and all the companies, trusts and partnerships that:

A consolidatable group becomes consolidated at a time chosen by the company that was the head company at the time.

Table of sections

Basic concepts

703 - 5   What is a consolidated group ?

703 - 10   What is a consolidatable group ?

703 - 15   Members of a consolidated group or consolidatable group

703 - 20   Certain entities that cannot be members of a consolidated group or consolidatable group

703 - 25   Australian residence requirements for trusts

703 - 30   When is one entity a wholly - owned subsidiary of another?

703 - 33   Transfer time for sale of shares in company

703 - 35   Treating entities as wholly - owned subsidiaries by disregarding employee shares

703 - 37   Disregarding certain preference shares following an ADI restructure

703 - 40   Treating entities held through non - fixed trusts as wholly - owned subsidiaries

703 - 45   Subsidiary members or nominees interposed between the head company and a subsidiary member of a consolidated group or a consolidatable group

Choice to consolidate a consolidatable group

703 - 50   Choice to consolidate a consolidatable group

Consolidated group created when MEC group ceases to exist

703 - 55   Creating consolidated groups from certain MEC groups

Notice of events affecting consolidated group

703 - 58   Notice of choice to consolidate

703 - 60   Notice of events affecting consolidated group

Effects of choice to continue group after shelf company becomes new head company

703 - 65   Application

703 - 70   Consolidated group continues in existence with interposed company as head company and original entity as a subsidiary member

703 - 75   Interposed company treated as substituted for original entity at all times before the completion time

703 - 80   Effects on the original entity's tax position