Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 719.77

  (1)   This section applies if:

  (a)   a * MEC group consists of the members of a * potential MEC group derived from one or more * eligible tier - 1 companies of a * top company; and

  (b)   one or more other companies become eligible tier - 1 companies of the top company at a time because of a choice under subsection   719 - 5(4).

  (2)   The * head company of the * MEC group must give the Commissioner a notice in the * approved form containing the following information:

  (a)   the identity of the head company;

  (b)   the time mentioned in paragraph   (1)(b);

  (c)   the identity of each entity that became an * eligible tier - 1 company of the * top company in relation to the MEC group at that time because of the choice;

  (d)   the identity of each entity that became a * subsidiary member of the group at that time because of the choice;

  (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.

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

  (a)   if the * head 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 head company gives the Commissioner that income tax return; or

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