Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 715.85

    If the leaving entity is a company, its first * changeover time at or after the leaving time is determined:

  (a)   on the basis that the reference time under subsection   165 - 115A(2A) is the one that would be used in determining whether the leaving time was a changeover time for the head company ; and

  (b)   making the additional assumptions in section   715 - 290.

Note:   If the leaving entity is a trust, it cannot have a changeover time (because Subdivision   165 - CC applies only to companies), so section   715 - 95 applies to it instead: see subsection   715 - 95(2).