Document ID: chunk:federal_register_of_legislation:C2025C00029:section:115:p4
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 115 (pt 4/40)
Character Range: 6508660–6511354

and the TSA contributing members of the difference between:
 (i) the total amount of the group liability; and
 (ii) the amount of the credit, or the sum of the credits, mentioned in paragraph (b).
 (1B) Despite subsections (1)and (1A), the group liability is not covered by a tax sharing agreement for the purposes of this Division if, apart from this subsection, the requirements in those subsections in relation to the group liability would be satisfied in relation to 2 or more agreements.
 (2) Despite subsections (1)and (1A), the group liability is not covered by a tax sharing agreement for the purposes of this Division if:
 (a) the agreement mentioned in paragraph (1)(a) was entered into as part of an arrangement; and
 (b) a purpose of the arrangement was to prejudice the recovery by the Commissioner of some or all of the amount of the group liability or liabilities of that kind.
 (3) Despite subsections (1)and (1A), the group liability is taken never to have been covered by a tax sharing agreement for the purposes of this Division if:
 (a) the Commissioner gives the *head company of the group written notice under this subsection (whether before, at or after the head company's due time) in relation to the group liability; and
 (b) the notice requires the head company to give the Commissioner a copy of the agreement mentioned in paragraph (1)(a) in the *approved form within 14 days after the notice is given; and
 (c) the Commissioner does not receive a copy of the agreement by the time required.
Note: If this subsection operates, joint and several liability can arise under section 721‑15 in relation to the group liability.

721‑30  TSA contributing members liable for contribution amounts
 (1) This section operates if a group liability is covered by a tax sharing agreement.
 (2) Each TSA contributing member is liable to pay to the Commonwealth an amount equal to the contribution amount for that member in relation to the group liability.
 (3) Despite subsection (2), a TSA contributing member is not liable under that subsection if the member left the group clear of the group liability (see section 721‑35).
 (4) The liability of a TSA contributing member under subsection (2) arises just after the *head company's due time.
 (5) The liability of a TSA contributing member under subsection (2) becomes due and payable by the member 14 days after the Commissioner gives the member written notice under this subsection of the liability.
Note: This section does not affect the time at which the group liability arose for, or became due and payable by, the head company.
 (5A) Despite subsection (5), if the group liability is *general interest charge for a day, the