n Tax Breaks Newsletter - Determining a 'group of companies' for purposes of the corporate rules : group taxation




The Income Tax Act 1962 contains a definition of a 'group of companies' in Section 1. However, a narrower definition of this term is contained in Section 41, which applies to certain corporate tax roll-over rules and other provisions contained in the Act. It is therefore important to identify which companies fall within the different definitions of a 'group of companies' in order to determine whether one qualifies for the applicable tax relief.


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