Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p10
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 10/22)
Character Range: 887578–890283

Tax Assessment Act 1997 that the consolidated group is to continue in existence at and after the completion time mentioned in that subsection); and
 (b) the conditions in subsection 45‑705(4) are satisfied in relation to the interposed company (whether or not this Subdivision applies to the company as the head company of the group for any period of time).
 (3) Everything that happened before the completion time in relation to the company (the original company) that was the *head company of the *consolidated group immediately before the completion time:
 (a) is taken to have happened in relation to the interposed company instead of in relation to the original company; and
 (b) is taken to have happened in relation to the interposed company instead of what would (apart from this section) be taken to have happened in relation to the interposed company before the completion time;
just as if, at all times before the completion time:
 (c) the interposed company had been the original company; and
 (d) the original company had been the interposed company.
 (4) To avoid doubt, subsection (3) also covers everything that, immediately before the completion time, was taken to have happened in relation to the original company because of:
 (a) section 701‑1 of the Income Tax Assessment Act 1997 (single entity rule); or
 (b) section 701‑5 of that Act (entry history rule); or
 (c) section 703‑75 of that Act (effects of an interposed company becoming the *head company of a *consolidated group); or
 (d) section 719‑90 of that Act (effects of a change of head company of a *MEC group); or
 (e) section 45‑710 in this Schedule (single entity rule for the purposes of this Part), including an application of that section under Subdivision 45‑S in this Schedule; or
 (f) this section; or
 (g) section 45‑920 in this Schedule (effects of a change of *provisional head company of a MEC group for the purposes of this Part); or
 (h) one or more previous applications of any of the provisions covered by paragraphs (a) to (g).
 (5) In addition, and without affecting subsection (3):
 (a) an assessment of the original company for an income year that ends before the income year that includes the completion time; or
 (b) an amendment of the assessment;
is taken to be something that had happened to the interposed company, whether or not the assessment or amendment is made before the completion time.
 (6) This section has effect for the purposes of applying this Part to *members of the *consolidated group in relation to an *instalment quarter of the interposed company that ends after the completion time.
Note: An assessment mentioned in subsection (5) may therefore be taken to be the base assessment