Document ID: chunk:federal_register_of_legislation:C2024C00267:section:3:p8
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 3 (pt 8/9)
Character Range: 702477–705232

701‑40 of the Income Tax Assessment Act 1997 (the exit history rule), the head company of the consolidated group continues to be subject to the balancing adjustment for income years ending after the leaving time.

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.

Division 716—Miscellaneous special rules

Table of Subdivisions
716‑G Software development pools

Subdivision 716‑G—Software development pools

Table of sections
716‑340 Expenditure incurred before 1 July 2001 and allocated to a software pool

716‑340  Expenditure incurred before 1 July 2001 and allocated to a software pool
  Sections 716‑340 and 716‑345 of the Income Tax Assessment Act 1997 operate in relation to a thing mentioned in column 1 of an item of the table in the same way as they operate in relation to a thing mentioned in column 2 of