Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p12
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 12/32)
Character Range: 7221638–7224523

period for the purposes of this Division.
 (3) If the conditions in subsection (1) are met in relation to the single company and more than one other establishment entity, the single company may make a different choice in relation to each of the other establishment entities.

Effect of choice

820‑601  Application
  Sections 820‑603 to 820‑615 apply if a choice is made under section 820‑597 or 820‑599.

820‑603  General
 (1) The choice cannot be revoked in relation to the grouping period. It binds the *head company or the single company, as appropriate, and the establishment entity.
 (2) The rest of this section applies:
 (a) to each *Australian permanent establishment that:
 (i) was an Australian permanent establishment of the establishment entity; and
 (ii) if the establishment entity was a *foreign bank—was an Australian permanent establishment through which the entity carried on banking *business in Australia at any time in the grouping period; and
 (b) in relation to each time (the test time) that was in the grouping period and was when the Australian permanent establishment:
 (i) was an Australian permanent establishment of the establishment entity; and
 (ii) if the establishment entity was a foreign bank—was an Australian permanent establishment through which the entity carried on banking business in Australia.
 (3) In the case of a choice under section 820‑597, this Division (except Subdivision 820‑FA, this Subdivision and Subdivision 820‑L) applies as if, at the test time, the *Australian permanent establishment:
 (a) had been part of the *head company; and
 (b) had not been part of the establishment entity; and
 (c) were a *subsidiary member of the *consolidated group or *MEC group.
 (4) In the case of a choice under section 820‑599, this Division (except Subdivision 820‑FA, this Subdivision and Subdivision 820‑L) applies as if, at the test time:
 (a) the *Australian permanent establishment had been part of the single company and had not been part of the establishment entity; and
 (b) the single company were a *consolidated group of which the single company was the *head company and the Australian permanent establishment was a *subsidiary member.
 (5) In either case, without limiting subsection (3) or (4), this Division (except Subdivision 820‑FA, this Subdivision and Subdivision 820‑L) applies as if:
 (a) the *Australian permanent establishment were an entity at that time; and
 (b) each asset and liability of the establishment entity at the test time that is attributable to the Australian permanent establishment were an asset or liability of the Australian permanent establishment at that time; and
 (c) without limiting paragraph (b) of this subsection, each cost that:
 (i) is a *debt deduction of the establishment entity incurred at the test time; and
 (ii) is attributable to the Australian permanent establishment;
  were a