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11 May 10 Consolidation: calculation and collection of income tax liabilities

The Government will improve the operation of the rules relating to the calculation and collection of income tax liabilities from consolidated groups and multiple entry consolidated groups (MEC groups) by:

  • clarifying that the Commissioner of Taxation can recover unpaid PAYG liabilities under the liability for payment rules, with effect from 11 May 2010;
  • clarifying that the liability for payment of tax rules applies to MEC groups, with effect from 11 May 2010;
  • clarifying that an entity that pays its contribution amount under a tax sharing agreement can leave a consolidated group or MEC group clear from any further liability, with effect from the 2004-05 income year;
  • ensuring that, where there is a change in the provisional head company of a MEC group during an income year, any PAYG instalments paid by the former provisional head company on behalf of the group are attributed to the group, with effect from 1 July 2002; and
  • clarifying that relevant parts of the income tax law apply to MEC groups in the
    same way as they apply to consolidated groups, with effect from 1 July 2002.

For more information, see the Assistant Treasurer's media release, No 2010/91, 11 May 2010.


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