Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 719.75

Group in existence throughout income year

  (1)   If:

  (a)   a company is the * provisional head company of a * MEC group at the end of the income year of the company; and

  (b)   the group was in existence throughout the income year;

the company is the head company of the group at all times during the income year.

Group comes into existence in income year

  (2)   If:

  (a)   a company is the * provisional head company of a * MEC group at the end of the income year of the company; and

  (b)   the group is in existence at the end of the income year; and

  (c)   the group came into existence in the income year;

that company is the head company of the group at all times during the period:

  (d)   beginning when the group came into existence; and

  (e)   ending at the end of the income year.

Group ceases to exist in income year

  (3)   If:

  (a)   a * MEC group ceases to exist in an income year of a company; and

  (b)   the company was the * provisional head company of the group immediately before the group ceased to exist;

that company is the head company of the group at all times during the period:

  (c)   beginning at whichever is the later of:

  (i)   the start of the income year; and

  (ii)   the time the group came into existence; and

  (d)   ending at the time when the group ceased to exist.