Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 709.190

    To avoid doubt, if:

  (a)   the * head company of a * consolidated group is entitled to a * tax offset under section   205 - 70 for an income year; and

  (b)   an amount (the excess ) of the offset remains after applying section   63 - 10 (about the tax offset priority rules) to the head company's basic income tax liability for that income year; and

  (c)   an entity ceases to be a * subsidiary member of the group in the income year;

the entity is not taken because of section   701 - 40 (the exit history rule):

  (d)   to have the excess; or

  (e)   to have another excess of that kind because of the circumstances that caused the head company to have the excess.