Document ID: chunk:federal_register_of_legislation:C2010C00690:clause:1_55:p3
Version: federal_register_of_legislation:C2010C00690
Segment Type: clause
Provision Reference: sch 1 cl 55 (pt 3/3)
Character Range: 248813–250691

amount equal to the contribution amount for that member in relation to the group liability.

 (3) Despite subsection (2), a TSA contributing member is not liable under that subsection if the member left the group clear of the group liability (see section 721‑35).

 (4) The liability of a TSA contributing member under subsection (2) arises just after the *head company's due time.

 (5) The liability of a TSA contributing member under subsection (2) becomes due and payable by the member 14 days after the Commissioner gives the member written notice under this subsection of the liability.

Note: This section does not affect the time at which the group liability arose for, or became due and payable by, the head company.

 (6) The liability of a TSA contributing member under subsection (2) is to be treated as a liability for income tax for the purposes of section 254 of the Income Tax Assessment Act 1936.

721‑35  When a TSA contributing member has left the group clear of the group liability

  For the purposes of subsection 721‑30(3), a TSA contributing member left the group clear of the group liability if:
 (a) the TSA contributing member ceased to be a member of the group at a time (the leaving time) before the *head company's due time; and
 (b) the cessation of membership was not part of an arrangement, a purpose of which was to prejudice the recovery by the Commissioner of some or all of the amount of the group liability or liabilities of that kind; and
 (c) before the leaving time, the TSA contributing member had paid to the head company:
 (i) if the contribution amount for that member in relation to the group liability could be determined before the leaving time—an amount equal and attributable to that amount; or
 (ii) otherwise—an amount that is a reasonable estimate of, and attributable to, that amount.

[The next Division is Division 820.]