Document ID: chunk:federal_register_of_legislation:C2010C00605:clause:16_46ac
Version: federal_register_of_legislation:C2010C00605
Segment Type: clause
Provision Reference: sch 16 cl 46AC
Character Range: 233124–234252

46AC  Different application for members of certain groups

 (1) This section applies to a taxpayer if:
 (a) the taxpayer becomes a member of a consolidated group or MEC group on the day (the consolidation day) the group comes into existence; and
 (b) the consolidation day either is before 1 July 2003 or is both:
 (i) the first day of the first income year starting after 30 June 2003 of the group's head company (for a consolidated group) or provisional head company (for a MEC group) on the consolidation day; and
 (ii) before 1 July 2004; and
 (c) the taxpayer was not a member of a consolidated group or MEC group before the consolidation day.

 (2) Sections 46 and 46A do not apply to the unfranked part of a dividend paid to the taxpayer on or after the consolidation day.

 (3) In this section:

consolidated group has the same meaning as in the Income Tax Assessment Act 1997.

head company has the same meaning as in the Income Tax Assessment Act 1997.

MEC group has the same meaning as in the Income Tax Assessment Act 1997.

provisional head company has the same meaning as in the Income Tax Assessment Act 1997.