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Part B Cancellation of transfer of losses

Last updated 4 August 2019

1 Has the head company cancelled the transfer of a loss?

A head company can make a choice to cancel the transfer of a loss of a joining entity. If the choice is made, the loss cannot be used by any entity for an income year ending after the joining time; see sections 707-145 and 707-150 of the ITAA 1997.

Print X in the appropriate box at A.

If the answer is Yes, complete item 2.

If the answer is No, go to Part C Ownership test and business continuity test.

2 Details of cancellation of transfer of losses

Write at B, D, F and H the TFNs of those joining entities that had transfers of one or more losses cancelled during the income year.

If the transfer of losses was cancelled for more than four joining entities, write the TFNs for only the four joining entities that had the largest total amounts of cancellation of transfer of losses.

Write at C, E, G and I, as required, the total amount of the cancellation of the transfer of one or more losses for joining entities whose TFNs are recorded at B, D, F and H respectively.