Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf the head company of a consolidated group fails to meet an income tax related liability by the time it becomes due and payable, entities that were subsidiary members of the group during the period to which the liability relates can also be responsible for all or part of the liability.
Table of sections
Object
721 - 5 Object of this Division
When this Division operates
721 - 10 When this Division operates
Joint and several liability of contributing member
721 - 15 Head company and contributing members jointly and severally liable to pay group liability
721 - 17 Notice of joint and several liability for general interest charge
721 - 20 Limit on liability where group first comes into existence
Tax sharing agreements
721 - 25 When a group liability is covered by a tax sharing agreement
721 - 30 TSA contributing members liable for contribution amounts
721 - 32 Notice of general interest charge liability under TSA
721 - 35 When a TSA contributing member has left the group clear of the group liability
721 - 40 TSA liability and group liability are linked