Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 719.78

Notice of special conversion event

  (1)   This section applies if a * MEC group comes into existence at the time because of a choice under paragraph   719 - 40(e).

  (2)   The company mentioned in paragraph   719 - 40(b) must give the Commissioner a notice in the * approved form containing the following information:

  (a)   the identity of the company;

  (b)   the time at which the * MEC group comes into existence;

  (c)   the identity of each * eligible tier - 1 company of the * top company in relation to the MEC group on that day;

  (d)   the identity of each * subsidiary member of the group at that time;

  (e)   the identity of each entity that was a subsidiary member of the group at that time but was not such a subsidiary member when the notice is given;

  (f)   the identity of each entity that was not a subsidiary member of the group at that time but was such a subsidiary member when the notice is given;

  (g)   the identity of each entity that became a subsidiary member of the group after that time but was not such a subsidiary member when the notice is given.

  (3)   The notice must be given no later than:

  (a)   if the company is required to give the Commissioner its * income tax return for the income year during which that time occurs--the day on which the company gives the Commissioner that income tax return; or

  (b)   otherwise--the last day in the period within which the company would be required to give the Commissioner such a return if it were required to give the Commissioner such a return.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback