Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf:
(a) the head company of a consolidated group or MEC group; or
(b) an Australian company that cannot consolidate;
is a member of the same wholly - owned group as a foreign bank or foreign financial entity, the company can choose to treat as part of itself the Australian branches of the foreign bank or foreign financial entity, affecting how the rest of this Division applies.
Table of sections
Choice to group with branches of foreign banks and foreign financial entities
820 - 597 Choice by head company of consolidated group or MEC group
820 - 599 Choice by Australian resident company outside consolidatable group and MEC group
Effect of choice
820 - 601 Application
820 - 603 General
820 - 605 Effect on establishment entity if certain debt deductions disallowed
820 - 607 Effect on test periods under this Division
820 - 609 Effect on classification of head company or single company
820 - 610 Choice not to be outward investing entity (ADI) or inward investing entity (ADI)
820 - 611 Values to be based on what would be in consolidated accounts for group
820 - 613 How Subdivision 820 - D applies
820 - 615 How Subdivision 820 - E applies