Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 717.1

If an entity becomes a subsidiary member of a consolidated group, the head company receives any tax offsets under section   770 - 10 that arise because the entity pays foreign income tax while it is a subsidiary member of the group.

Table of sections

Object

717 - 5   Object of this Subdivision

Foreign income tax on amounts in head company's assessable income

717 - 10   Head company taken to be liable for subsidiary member's foreign income tax