Document ID: chunk:federal_register_of_legislation:C2010C00603:clause:1_28
Version: federal_register_of_legislation:C2010C00603
Segment Type: clause
Provision Reference: sch 1 cl 28
Character Range: 72516–74799

28  After Division 713
Insert:

Division 715—Interactions between the consolidation rules and other areas of the income tax law

Table of Subdivisions

715‑J Entry history rule and choices
715‑K Exit history rule and choices

Subdivision 715‑J—Entry history rule and choices

Table of sections

715‑658 Application
715‑659 Extension of time for making choice if joining time was before commencement

715‑658  Application

  Subdivision 715‑J of the Income Tax Assessment Act 1997 applies on and after 1 July 2002.

715‑659  Extension of time for making choice if joining time was before commencement

 (1) This section extends the time given by each of the following provisions of the Income Tax Assessment Act 1997 for making a choice because an entity becomes a member of a consolidated group, if, before the commencement of the provision, the Commissioner is given notice under Division 703 that the entity has become a member of the group:
 (a) subsection 715‑660(4);
 (b) subsection 715‑665(5);
 (c) paragraph 715‑675(1)(c).

 (2) A reference in each of those provisions to the end of 90 days after the Commissioner is given notice under Division 703 that the entity has become a member of the group has effect as if it were a reference to the end of 90 days after the commencement of the provision.

Subdivision 715‑K—Exit history rule and choices

Table of sections

715‑698 Application
715‑699 Extension of time for making choice if leaving time was before commencement

715‑698  Application

  Subdivision 715‑K of the Income Tax Assessment Act 1997 applies on and after 1 July 2002.

715‑699  Extension of time for making choice if leaving time was before commencement

 (1) This section extends the time given by each of the following provisions of the Income Tax Assessment Act 1997 for making a choice because an entity ceases to be a subsidiary member of a consolidated group at the leaving time, if the leaving time is before the commencement of the provision:
 (a) subsection 715‑700(5);
 (b) subsection 715‑705(6).

 (2) A reference in each of those provisions to the end of 90 days after the leaving time has effect as if it were a reference to the end of 90 days after the commencement of the provision.

Part 11—Trusts

Income Tax Assessment Act 1997