Document ID: chunk:federal_register_of_legislation:C2010C00690:clause:4_1:p1
Version: federal_register_of_legislation:C2010C00690
Segment Type: clause
Provision Reference: sch 4 cl 1 (pt 1/8)
Character Range: 292814–295603

1  At the end of Division 45 in Schedule 1
Add:

Subdivision 45‑Q—General rules for consolidated groups

Guide to Subdivision 45‑Q

45‑700  What this Subdivision is about

      This Subdivision allows the members of a consolidated group to be treated as a single entity for the purposes of Pay as you go (PAYG) instalments. Generally, the head company of the group is the entity liable to pay PAYG instalments.
      The PAYG instalments provisions in this Part apply to the head company in much the same way as they apply to any other company. However, the operation of some of these provisions is modified by this Subdivision.
      This Subdivision also contains special rules to deal with changes in the membership of the group.
Note 1: This Subdivision starts to apply to the head company of the group at a time that is later than the time when the group first comes into existence: see section 45‑705.

Note 2: Subdivision 45‑R sets out special rules for the period after the group comes into existence but before this Subdivision begins to apply to the head company of the group.

Table of sections

Application of Subdivision

45‑705 Application

Usual operation of this Part for consolidated group members

45‑710 Single entity rule
45‑715 When instalments are due—modification of section 45‑61
45‑720 Head company cannot be an annual payer—modification of section 45‑140

Membership changes

45‑755 Entry rule (for an entity that becomes a subsidiary member of a consolidated group)
45‑760 Exit rule (for an entity that ceases to be a subsidiary member of a consolidated group)
45‑775 Commissioner's power to work out different instalment rate or GDP‑adjusted notional tax

[This is the end of the Guide.]

Application of Subdivision

45‑705  Application

  This Subdivision applies to the *head company of a *consolidated group during the period:
 (a) beginning at the start of the *instalment quarter during which the Commissioner gives the company its *initial head company instalment rate; and
 (b) ending at the end of the instalment quarter during which the company ceases to be the head company of the group.

Usual operation of this Part for consolidated group members

45‑710  Single entity rule

  If an entity is a *subsidiary member of a *consolidated group for any period during which this Subdivision applies to the *head company of the group:
 (a) that entity; and
 (b) any other subsidiary member of the group;
are taken for the purposes of this Part to be parts of that head company (rather than separate entities) during that period.

Note: That means, amongst other things, the head company would be liable to pay instalments for that period as if the subsidiary members were parts of the head company.

45‑715  When instalments are due—modification