Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 721.35

When a TSA contributing member has left the group clear of the group liability

                   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.



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