45-710
CurrentSingle entity rule
Volume 2Schedule 1, Chapter 2, Part 2-10 to Chapter 4, Part 4-25 (sections 45-1 to 298-110)
Schedule 1Collection and recovery of income tax and other liabilities
Chapter 2Collection, recovery and administration of income tax
Part 2-10Pay as you go (PAYG) instalments
Division 45Instalment payments
Subdivision 45-QGeneral rules for consolidated groups
45-710 Single entity rule
If an entity is a *subsidiary member of a *consolidated group for any period during which this Subdivision applies to the *head company of the group:
(a)
that entity; and
(b)
any other subsidiary member of the group;
are taken for the purposes of this Part to be parts of that head company (rather than separate entities) during that period.
Note:
That means, amongst other things, the head company would be liable to pay instalments for that period as if the subsidiary members were parts of the head company.
This Act’s bill:Second reading speech
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