INCOME TAX ASSESSMENT ACT 1997 - SECT 713.550 Treatment of head company's franking account after joining
INCOME TAX ASSESSMENT ACT 1997 - SECT 713.550
Treatment of head company's franking account after joiningSections 709 - 70 and 709 - 75 do not apply in relation to a * subsidiary member of a * consolidated group if:
(a) the subsidiary member is a * life insurance company; or
(b) a life insurance company that is a * member of the group
owns * membership interests, either directly or indirectly through one or more
interposed entities, in the subsidiary member.