The Consolidated Group Membership Register provides:
- CGM Register - Head Company Details
- CGM Register - Subsidiary Member Details
- Consolidation Eligibility Tests
- Notification of Members joining of leaving a Consolidated Group (bn) schedule
The Consolidated Group Membership Details Worksheet (cgm) assists in the tracking and maintenance of group members. It enables recording of members as they join and leave the group, and is an entry point to the proposed Entry Cost Setting Process and the Exit Cost Setting Process.
The consolidated group membership index contains the information relating to entities that may be members of the consolidated group. This screen allows you to access the add details for the members. You can also test the eligibility of potential group members and access the cost setting functions for entry and exit. The options offered are:
|New||Allows you to create a new entity to add to the membership index.|
|Sort||Presents the index of members in order by the attribute selected.|
|Delete||Deletes an existing entity.|
|Group||Allows you to view and update the details for the head company of the consolidated group.|
|Create BN/EX||Auto Generates the Schedule BN – Notification of Formation of a Consolidated Group if one has not been lodged (as recorded in the Group dialogue). If the Schedule BN has already been lodged, then selecting this button will create the Schedule EX - Members Joining/Leaving a Consolidated Group and only those changed member details, that is any member who has joined or left since the last BN or EX was lodged electronically.|
|Cancel||As all data in the index is already saved, selecting Cancel simply closes the screen.|
This screen contains the information that is relevant to the Head Company (being the current return) and the Group as a whole.
|Entity name||The legal name of the head company.|
|Tax File No.||Tax file number of the head company|
|ABN||Australian Business Number of the head company. These details are filled from the information contained in the properties of the current return|
|Date of formation||The date that the consolidated group was formed.|
|Multiple entry consolidated group|
When selected this indicates that the consolidated group an MEC group. MEC groups use different notification forms and have different rules in certain circumstances.
To be a member of a consolidated group an entity must be an Australian resident company, partnership or trust. A foreign-owned group of Australian resident subsidiaries that do not have a single Australian resident head company may also consolidate by forming a multiple entry consolidated group or MEC Group.
|Notification of formation previously lodged with ATO||This indicates if the BN form has been lodged with the ATO. If you sent the BN form electronically this check-box will be updated automatically. If you have sent the BN form via paper or the ATO, you must select this option manually.|
|Consolidated Group has ceased to exist||This need only be selected where the consolidated group has cease to exist. Once selected, you are then able to enter the date that the group ceased to exist.|
|Date group ceased to exist||This field is only active when consolidated group has ceased to exist is selected, and indicates the date that the group ceased to exist.|
This screen requires the details specific to the joining entity that is being added to the membership register.
|Entity name||The legal name of the member entity. If the entity that you are adding already exists in your Tax ledger, you can use the select option to fill in the entity details.|
|Tax File No.||Tax file number of the member entity|
|Entity type||Must be either a Partnership, Company or Trust|
|Membership History Table|
|Joining Date||The date that the entity joined the group|
|Leaving Date||If the entity has since left the consolidated group, the date that they left the group|
|Reason for Leaving Group||the reason that the entity left the consolidated group. The field is a selection list based on the options on the ATO notification forms. If an entity has left this consolidated group and subsequently re-joined the same group at a later date, insert a new line with the later joining date.|