Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 721.35

    For the purposes of subsection   721 - 30(3), a TSA contributing member left the group clear of the group liability if:

  (a)   the TSA contributing member ceased to be a member of the group at a time (the leaving time ) before the * head company's due time; and

  (b)   the cessation of membership was not part of an arrangement, a purpose of which was to prejudice the recovery by the Commissioner of some or all of the amount of the group liability or liabilities of that kind; and

  (c)   before the leaving time, the TSA contributing member had paid to the head company:

  (i)   if the contribution amount for that member in relation to the group liability could be determined before the leaving time--an amount equal and attributable to that amount; or

  (ii)   otherwise--an amount that is a reasonable estimate of, and attributable to, that amount.