Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 716.505

    If:

  (a)   a company becomes a * subsidiary member of a * consolidated group; and

  (b)   apart from this section, things happening in relation to the company before it became a subsidiary member would, because of section   701 - 5 (the entry history rule), be taken into account as things happening in relation to the * head company for working out the head company's * aggregated turnover for the purposes of section   355 - 100 (tax offsets for R&D);

the things happening are not to be taken into account as mentioned in paragraph   (b).