Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p20
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 20/20)
Character Range: 6269271–6271860

the first condition in section 715‑610 cannot be satisfied, because of that consolidated group, at a time when the first entity was a member of the group.

715‑620  Exception if loss attributable to certain matters
 (1) The loss is not reduced if all of it can be shown to be attributable to things other than these:
 (a) something that would be reflected in what would, apart from this Part, be an overall loss under section 165‑115R or 165‑115S, of a *member of a *consolidated group (an excluded group) because of which the first condition in section 715‑610 is satisfied, at an *alteration time for that member;
 (b) an *indirect value shift for which, apart from this Part, a member of an excluded group would be the *losing entity or the *gaining entity.
 (2) If only part of the loss can be shown to be attributable to things other than the ones listed in subsection (1), the loss is reduced to the amount of that part.

Subdivision 715‑J—Entry history rule and choices

Table of sections

Head company's choice overriding entry history rule
715‑660 Head company's choice overriding entry history rule

Choices head company can make ignoring entry history rule to override inconsistencies
715‑665 Head company's choice to override inconsistency

Choices with ongoing effect
715‑670 Ongoing effect of choices made by entities before joining group
715‑675 Head company adopting choice with ongoing effect

Head company's choice overriding entry history rule

715‑660  Head company's choice overriding entry history rule

Application
 (1) This section has effect if an entity becomes a *subsidiary member of a *consolidated group at a time (the joining time) and either:
 (a) the question whether the entity had made a choice (however described) under a provision (the choice provision) listed in the table was relevant to working out the entity's liability (if any) for income tax, or the entity's loss (if any) of a particular *sort, calculated by reference to an income year starting before the joining time; or
 (b) before the joining time, the entity made a choice that:
 (i) is described in paragraph (a); and
 (ii) would, if the entity had not become a subsidiary member of a consolidated group, have started to have effect for working out the entity's liability (if any) for income tax, or the entity's loss (if any) of a particular *sort, calculated by reference to the first income year starting after the joining time.

List
Item  Provision                                                                                                                  Subject of provision