Document ID: chunk:federal_register_of_legislation:C2010C00605:clause:11_73bac
Version: federal_register_of_legislation:C2010C00605
Segment Type: clause
Provision Reference: sch 11 cl 73BAC
Character Range: 143596–144470

73BAC  Expenditure history: joining entity

 (1) For the purposes of sections 73P to 73Z (inclusive), where a company (the joining company) becomes a member of a consolidated group or MEC group, those provisions have effect after the joining company became a member as if:
 (a) any incremental expenditure (see section 73P) incurred by the joining company before it became a member had been incurred by the head company of the group; and
 (b) any amounts the joining company has deducted or can deduct for that expenditure had been deducted by the head company.

 (2) Subsection (1) has effect after any application of subsection 73R(3) or (4) (exceptions to R&D membership period rules).

Note: This provision overrides section 701‑5 of the Income Tax Assessment Act 1997 (the consolidation entry history rule) for the purposes of the incremental expenditure provisions.