Document ID: chunk:federal_register_of_legislation:C2010C00610:clause:2_39:p2
Version: federal_register_of_legislation:C2010C00610
Segment Type: clause
Provision Reference: sch 2 cl 39 (pt 2/2)
Character Range: 21993–22655

(a) the *head company of a *consolidated group is entitled to a *tax offset under section 205‑70 for an income year; and
 (b) the offset exceeds the amount that would have been the head company's income tax liability for that income year if it did not have that offset (but had all its other tax offsets); and
 (c) an entity ceases to be a *subsidiary member of the group in the income year;
the entity is not taken because of section 701‑40 (the exit history rule):
 (d) to have the excess mentioned in paragraph (b); or
 (e) to have another excess of that kind because of the circumstances that caused the head company to have the excess.

Part 9—Application