Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p14
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 14/22)
Character Range: 897270–900127

notional tax under this section.

Additional applications of subsection (2)
 (4) If, after exercising the power in relation to the membership change under subsection (2) for the first time, and on the basis of an assessment (including an amendment) of the *head company for the income year in which the change occurs, or for an earlier year, the Commissioner has worked out:
 (a) another instalment rate under section 45‑320 for the company (whether or not the Commissioner has given that rate to the company); or
 (b) another amount of *GDP‑adjusted notional tax under section 45‑405 for the company (whether or not the Commissioner has notified the company an amount of instalment based on that other amount);
the Commissioner may again exercise the power under subsection (2) in relation to the membership change, as if:
 (c) the rate mentioned in paragraph (a) were the most recent instalment rate mentioned in paragraph (2)(a); and
 (d) the amount of GDP‑adjusted notional tax mentioned in paragraph (b) were the amount of GDP‑adjusted notional tax worked out for the purposes of the most recent amount of instalment that is mentioned in paragraph (2)(b).
 (5) To avoid doubt, in relation to the membership change, the Commissioner:
 (a) may exercise the power under subsection (2) by applying subsection (4) more than once; but
 (b) must not exercise that power more than once in relation to a particular instalment rate mentioned in paragraph (4)(a) or a particular amount of *GDP‑adjusted notional tax mentioned in paragraph (4)(b).

Subdivision 45‑R—Special rules for consolidated groups

Guide to Subdivision 45‑R

45‑850  What this Subdivision is about

      This Subdivision deals with the application of this Part to members of a consolidated group after the group has come into existence but before the members are treated as a single entity for the purposes of this Part.
      This Subdivision also contains special rules in relation to the application of Subdivision 45‑Q to members of a consolidated group in these circumstances:

                (a) a group whose members were treated as a single entity under that Subdivision (a mature group) is acquired by another group (see section 45‑880); or
                (b) a member of a mature group ceases to be such a member and becomes the head company of a new group (see section 45‑885).
Note: Subdivision 45‑S extends the operation of this Subdivision so that it can apply to members of a MEC group. It contains modifications of this Subdivision for the purposes of that extended operation.

Table of sections

Operative provisions
45‑855 Section 701‑1 disregarded for certain purposes
45‑860 Member having a different instalment period
45‑865 Credit rule
45‑870 Head company's liability to GIC on shortfall in quarterly instalment
45‑875 Other rules about the general interest charge