215‑10 Choice to consolidate for MRRT pu215‑10 Choice to consolidate for MRRT purposes

215‑10 Choice to consolidate for MRRT purposes

(1) A *head company of a *consolidated group or a *MEC group or a *provisional head company of a MEC group may, in writing, choose to apply this Division in relation to the group.

Note: Division 119 in Schedule 1 to the Taxation Administration Act 1953 is about choices under the MRRT law.

(2) However, subsection (1) does not apply if a notice has not been given to the Commissioner under section 703‑58, 719‑76 or 719‑78 of the Income Tax Assessment Act 1997 in relation to the group. (3) The *head company or the *provisional head company must give the Commissioner notice of the choice in the *approved form: (a) within 21 days after making the choice; or (b) within such further period as the Commissioner allows. (4) The choice: (a) has effect on and after the day the choice is made; and (b) does not have effect after the *consolidated group or *MEC group ceases to exist.

Note: Mining project interests the head company has just before a consolidated group or MEC group ceases to exist would be transferred or split (as the case requires) to the relevant entity at the time the group ceases to exist: see section 215‑25 and 215‑30.