Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If an entity is a * GR group member for a period of a * GR group for the period, the entity's group ratio for the income year corresponding to the period is worked out as follows:
(a) first, work out the * GR group net third party interest expense, for that period, of the GR group;
(b) next, work out the * GR group EBITDA for that period of the GR group;
(c) next, divide the result of paragraph (a) by the result of paragraph (b).
If the result of paragraph (b) is zero, the entity's group ratio for the income year is zero.
Note: The entity must keep records in accordance with section 820 - 985 if the entity works out a group ratio under this section.
(2) A GR group , for a period, is:
(a) if * audited consolidated financial statements for the period have been prepared for a worldwide parent entity (as described in subsection 820 - 935(6))--the group comprised of all of the following:
(i) the worldwide parent entity;
(ii) each other entity that is fully consolidated on a line - by - line basis in those audited consolidated financial statements; or
(b) if paragraph (a) does not apply, and * global financial statements have been prepared for the period for a * global parent entity--the group comprised of all of the following:
(i) the global parent entity;
(ii) each other entity that is fully consolidated on a line - by - line basis in those global financial statements.
(3) If paragraph (2)(a) applies:
(a) the GR group parent for the period of the * GR group is the worldwide parent entity mentioned in that paragraph; and
(b) each of the entities mentioned in that paragraph is a GR group member for the period of the * GR group.
(4) If paragraph (2)(b) applies:
(a) the GR group parent for the period of the * GR group is the * global parent entity mentioned in that paragraph; and
(b) each of the entities mentioned in that paragraph is a GR group member for the period of the * GR group.