Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 703.45

             (1)  This section describes, for the purposes of item 2, column 4 of the table in subsection 703-15(2), a set of requirements that must be met for an entity (the test entity ) to be a * subsidiary member of a * consolidated group or a * consolidatable group at a particular time (the test time ).

             (2)  At the test time, each of the interposed entities must either:

                     (a)  be a * subsidiary member of the group; or

                     (b)  hold * membership interests in:

                              (i)  the test entity; or

                             (ii)  a subsidiary member of the group interposed between the * head company of the group and the test entity;

                            only as a nominee of one or more entities each of which is a * member of the group.

Choice to consolidate a consolidatable group