Document ID: chunk:federal_register_of_legislation:C2011C00698:clause:5_159
Version: federal_register_of_legislation:C2011C00698
Segment Type: clause
Provision Reference: sch 5 cl 159
Character Range: 132763–134217

159  Before section 703‑60 (after the group heading)
Insert:

703‑58  Notice of choice to consolidate

 (1) If a *consolidated group comes into existence on the day specified in a choice under section 703‑50, the *head company of the group must give the Commissioner a notice in the *approved form containing the following information:
 (a) the identity of the head company;
 (b) the day specified in the choice on which the *consolidatable group is taken to be consolidated;
 (c) the identity of each *subsidiary member of the group on that day;
 (d) the identity of each entity that was a subsidiary member of the group on that day but was not such a subsidiary member when the notice is given;
 (e) the identity of each entity that was not a subsidiary member of the group on that day but was such a subsidiary member when the notice is given;
 (f) the identity of each entity that became a subsidiary member of the group after that day but was not such a subsidiary member when the notice is given.

 (2) The notice must be given no later than:
 (a) if the *head company is required to give the Commissioner its *income tax return for the income year during which that day occurs—the day on which the company gives the Commissioner that income tax return; or
 (b) otherwise—the last day in the period within which the head company would be required to give the Commissioner such a return if it were required to give the Commissioner such a return.