In the absence of an election to be a 'tax consolidated group',the Australian Tax Office assesses income earned by the individual legal entities in an economic group and does not take into consideration consolidation adjustments required for group accounts.

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In the absence of tax consolidation, the Australian Tax Office assesses income earned by individual legal entities in an economic group separately and does not consider the consolidation adjustments that may be required for group accounts. This means that each entity pays tax based on their individual income, rather than being taxed on their combined income as a single consolidated group.

In the Absence of an Election to Be a 'Tax