Document ID: chunk:federal_register_of_legislation:C2010C00690:clause:4_1:p4
Version: federal_register_of_legislation:C2010C00690
Segment Type: clause
Provision Reference: sch 4 cl 1 (pt 4/8)
Character Range: 300195–302937

entity for an income year that is, or includes, a period after the entity ceases to be a *subsidiary member of the group.

[The next section is section 45‑775.]

45‑775  Commissioner's power to work out different instalment rate or GDP‑adjusted notional tax

 (1) This section applies if any of the following changes (the membership change) occurs in relation to a *consolidated group while this Subdivision applies to the *head company of the group:
 (a) an entity becomes a *subsidiary member of the group or a number of entities become subsidiary members of the group;
 (b) an entity ceases to be a subsidiary member of the group or a number of entities cease to be subsidiary members of the group.

 (2) If the Commissioner, having regard to the object of this Part and the membership change, is of the opinion that it would be reasonable to do so, the Commissioner may work out:
 (a) an instalment rate that is higher, or lower, than the most recent instalment rate given by the Commissioner to the *head company under section 45‑15; or
 (b) an amount of *GDP‑adjusted notional tax that is higher, or lower, than the amount of GDP‑adjusted notional tax worked out for the purposes of the most recent amount of instalment notified by the Commissioner to the head company under paragraph 45‑112(1)(a).

 (3) The new instalment rate or amount of *GDP‑adjusted notional tax must be a rate or amount that, in the opinion of the Commissioner, is reasonable having regard to the object of this Part and the membership change.

Note 1: Subdivision 45‑J does not apply for the purpose of working out an instalment rate under this section.

Note 2: Section 45‑405 does not apply for the purpose of working out an amount of GDP‑adjusted notional tax under this section.

Subdivision 45‑R—Special rules for consolidated groups in relation to transitional income years

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 of the group are treated under Subdivision 45‑Q as a single entity for the purposes of this Part.

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

[This is the end of the Guide.]

Operative provisions

45‑855  Section 701‑1 disregarded for certain purposes

  If:
 (a) an amount is required to be worked out for the purpose of determining the *instalment income of an entity that is a *member of a