Document ID: chunk:federal_register_of_legislation:C2010C00605:clause:11_73bad
Version: federal_register_of_legislation:C2010C00605
Segment Type: clause
Provision Reference: sch 11 cl 73BAD
Character Range: 144470–145405

73BAD  Expenditure history: leaving entity

 (1) For the purposes of sections 73P to 73Z (inclusive), where a company (the leaving company) ceases to be a member of a consolidated group or MEC group, those provisions have effect after the leaving company ceased to be a member as if:
 (a) any incremental expenditure (see section 73P) actually incurred by the leaving company while it was a member of the group had been incurred by it rather than by any other member of the group; and
 (b) any amounts the head company of the group has deducted or can deduct for that expenditure had been deducted by the leaving company.

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

Note: This provision overrides section 701‑40 of the Income Tax Assessment Act 1997 (the consolidation exit history rule) for the purposes of the incremental expenditure provisions.