Application (INT1052_06-05_COMPmar20_07-21)

[Deleted by the AASB]

This Interpretation applies to annual reporting periods ending on or after 31 December 2005.

[Note: For application dates of paragraphs changed or added by an amending pronouncement, see Compilation Details.]

This Interpretation may be applied to annual reporting periods beginning on or after 1 January 2005 that end before 31 December 2005, permitting early application only in the context of adopting all Australian equivalents to International Financial Reporting Standards for such periods. An entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act may apply this Interpretation to such an annual reporting period when an election has been made in accordance with subsection 334(5) of the Corporations Act in relation to AASB 1048 Interpretation of Standards. When an entity applies this Interpretation to such an annual reporting period, it shall disclose that fact.

[Deleted by the AASB]

When applied or operative, this Interpretation supersedes Abstract 52 Income Tax Accounting under the Tax Consolidation System, as issued in December 2003. The Interpretation also supersedes, in part, Abstract 39 Effect of Proposed Tax Consolidation Legislation on Deferred Tax Balances, as issued in December 2002.

Abstract 52 and Abstract 39 have been withdrawn with effect for annual reporting periods beginning on or after 1 January 2005.

For the purposes of this Interpretation, references to “tax-consolidated group”, “head entity” and “wholly-owned subsidiaries” respectively include a multiple entry consolidated (MEC) group, the head entity of the MEC group, and the other entities that are members of the MEC group.