Document ID: chunk:federal_register_of_legislation:C2025C00029:section:115:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 115 (pt 1/40)
Character Range: 6500849–6503871

115                                                                               Subsection 177P(3) of the Income Tax Assessment Act 1936 (diverted profits tax)                                                                                                                                                                             the income year to which the diverted profits tax relates

Note: The other amounts referred to in item 3 of the table are interest payable under section 102AAM of the Income Tax Assessment Act 1936 (distributions from certain non‑resident trust estates).
 (3) Item 30 of the table in subsection (2) is taken not to include a *PAYG instalment of the *head company if the Commissioner gave the head company its *initial head company instalment rate after the end of the *instalment quarter of the head company to which the PAYG instalment relates.
 (3A) Item 32 of the table in subsection (2) is taken not to include a *PAYG instalment of the *head company if the Commissioner gave the head company its *initial head company instalment rate on or after the start of the *instalment month of the head company to which the PAYG instalment relates.

Joint and several liability of contributing member

721‑15  Head company and contributing members jointly and severally liable to pay group liability
 (1) The following are jointly and severally liable to pay the group liability:
 (a) the *head company; and
 (b) each contributing member (other than a contributing member excluded by subsection (2)).
Note: A group liability is a tax‑related liability in relation to the head company and each contributing member. For rights of contribution in respect of such a liability, see subsection 265‑45(2) in Schedule 1 to the Taxation Administration Act 1953.
 (2) For the purposes of paragraph (1)(b), a contributing member is excluded by this subsection if it is, at the head company's due time, prohibited according to the effect of an *Australian law from entering into any arrangement under which the entity becomes subject to a liability referred to in subsection (1).
 (3) Subsection (1) does not operate if the group liability is covered by a tax sharing agreement (see section 721‑25).
 (3A) Subsection (1) is taken never to have made a particular contributing member jointly and severally liable to pay the group liability if:
 (a) the group liability was taken never to have been covered by the tax sharing agreement because of subsection 721‑25(3); and
Note: Subsection 721‑25(3) provides for this to happen if the Commissioner did not receive a copy of the tax sharing agreement within 14 days after the Commissioner gave the head company the notice under that subsection.
 (b) the Commissioner gave the contributing member written notice of the group liability under subsection (5); and
 (c) apart from the operation of subsection 721‑25(3), the contributing member left the group clear of the group liability in accordance with section 721‑35; and
 (d) the contributing member gave the