Document ID: chunk:federal_register_of_legislation:C2010C00603:clause:1_26
Version: federal_register_of_legislation:C2010C00603
Segment Type: clause
Provision Reference: sch 1 cl 26
Character Range: 49297–51012

26  After Subdivision 715‑H
Insert:

Subdivision 715‑J—Entry history rule and choices

Table of sections

Head company's choice overriding entry history rule

715‑660 Head company's choice overriding entry history rule

Choices head company can make ignoring entry history rule to override inconsistencies

715‑665 Head company's choice to override inconsistency

Choices with ongoing effect

715‑670 Ongoing effect of choices made by entities before joining group
715‑675 Head company adopting choice with ongoing effect

Head company's choice overriding entry history rule

715‑660  Head company's choice overriding entry history rule

Application

 (1) This section has effect if an entity becomes a *subsidiary member of a *consolidated group at a time (the joining time) and either:
 (a) the question whether the entity had made a choice (however described) under a provision (the choice provision) listed in the table was relevant to working out the entity's liability (if any) for income tax, or the entity's loss (if any) of a particular *sort, calculated by reference to an income year starting before the joining time; or
 (b) before the joining time, the entity made a choice that:
 (i) is described in paragraph (a); and
 (ii) would, if the entity had not become a subsidiary member of a consolidated group, have started to have effect for working out the entity's liability (if any) for income tax, or the entity's loss (if any) of a particular *sort, calculated by reference to the first income year starting after the joining time.

List
Item  Provision                                                                                                                        Subject of provision