Revoking elections in relation to losses

The Government has announced that the deadline for revoking the following elections will also be extended for 12 months to 31 December 2005:

  • the election to utilise certain losses over three years rather than under the available fraction method
  • the election under the value donor concessions for calculating an entity's available fraction
  • the election to waive the capital injection rules where the value donor rules could apply
  • elections by the head company of a consolidated or multiple entry consolidated (MEC) group to cancel a loss on its transfer.
    Last modified: 20 Oct 2010QC 17844