Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p12
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 12/66)
Character Range: 6355483–6358142

Tax Assessment Act 1936) for a FIF attribution account entity (within the meaning of former Part XI of that Act) in relation to the joining company just before the joining time.

Transfers

717‑210  Attribution surpluses
 (1) This section operates for the purposes of Part X of the Income Tax Assessment Act 1936 if:
 (a) a company (the joining company) becomes a *subsidiary member of a *consolidated group at a time (the joining time); and
 (b) just before the joining time there was an attribution surplus for an attribution account entity in relation to the joining company for the purposes of that Part; and
 (c) just before the joining time the joining company's attribution account percentage in relation to the attribution account entity for the purposes of that Part was more than nil.

Credit in relation to the head company
 (2) An attribution credit arises at the joining time for the attribution account entity in relation to the *head company of the group. The credit is equal to the attribution surplus.

Debit in relation to the joining company
 (3) An attribution debit arises at the joining time for the attribution account entity in relation to the joining company. The debit is equal to the attribution surplus.

717‑220  FIF surpluses
 (1) This section operates for the purposes of sections 23AK and 23B of the Income Tax Assessment Act 1936 if:
 (a) a company (the joining company) becomes a *subsidiary member of a *consolidated group at a time (the joining time); and
 (b) just before the joining time there was a post FIF abolition surplus for a FIF attribution account entity in relation to the joining company for the purposes of those sections; and
 (c) just before the joining time, the joining company's FIF attribution account percentage in relation to the FIF attribution account entity for the purposes of those sections was more than nil.

Credit in relation to the head company
 (2) A post FIF abolition credit arises at the joining time for the FIF attribution account entity in relation to the *head company of the group. The credit is equal to the post FIF abolition surplus.

Debit in relation to the joining company
 (3) A post FIF abolition debit arises at the joining time for the FIF attribution account entity in relation to the joining company. The debit is equal to the post FIF abolition surplus.

Definitions
 (4) In this section:
FIF attribution account entity has the same meaning as in former Part XI of the Income Tax Assessment Act 1936.
FIF attribution account percentage has the same meaning as in former Part XI of the Income Tax Assessment Act 1936.
post FIF abolition credit has the same meaning as in