Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p9
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 9/22)
Character Range: 885118–887833

may start applying to the company as if it had already become the head company when it is not yet such a company.

Usual operation of this Part for consolidated group members

45‑710  Single entity rule
  If an entity is a *subsidiary member of a *consolidated group for any period during which this Subdivision applies to the *head company of the group:
 (a) that entity; and
 (b) any other subsidiary member of the group;
are taken for the purposes of this Part to be parts of that head company (rather than separate entities) during that period.
Note: That means, amongst other things, the head company would be liable to pay instalments for that period as if the subsidiary members were parts of the head company.

45‑715  When instalments are due—modification of section 45‑61
 (1) If:
 (a) the *head company of a *consolidated group is liable to pay an instalment for an *instalment quarter; and
 (b) this Subdivision applies to the head company during that quarter;
then, despite subsection 45‑61(2), the instalment is due on or before the 21st day of the month after the end of that quarter whether or not the head company is a *deferred BAS payer on that day.
 (2) Subsection (3) applies if section 45‑703 applies to the *head company of the *consolidated group (because it is a *monthly payer).
 (3) Treat the reference in subsection (1) to subsection 45‑61(2) as instead being a reference to subsection 45‑67(2).

45‑720  Head company cannot be an annual payer—modification of section 45‑140
  Despite any other provisions in this Part, the *head company of a *consolidated group cannot choose to be an *annual payer under section 45‑140 while this Subdivision applies to the head company.
Note: You stop being an annual payer when this Subdivision starts applying to you as the head company of a consolidated group: see section 45‑160.

Membership changes

45‑740  Change of head company

Object
 (1) The object of this section (except subsection (8)) is to ensure that, for the purposes of this Part, when a company becomes the new *head company of a *consolidated group:
 (a) the company inherits the history of the former head company of the group; and
 (b) the history of the new head company is effectively ignored.
 (2) This section applies to a *head company of a *consolidated group if:
 (a) the company is an interposed company mentioned in subsection 45‑705(4) (an interposed company that chooses under subsection 615‑30(2) of the Income Tax Assessment Act 1997 that the consolidated group is to continue in existence at and after the completion time mentioned in that subsection); and
 (b) the conditions in subsection 45‑705(4) are satisfied in relation to the interposed company (whether or