Income Tax Assessment Act 1936
SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS Division 266 - Income tax consequences for fixed trusts of abnormal trading or change in ownership
cannot deduct a tax loss from an earlier income year; or
has to work out its net income and tax loss for the income year in a special way; or
cannot deduct certain amounts in respect of debts incurred in the same year or earlier income years;
there was no abnormal trading; or
there was abnormal trading, but the trust
s ownership and business did not change.
Subdivision 266-D - Effect of abnormal trading on listed widely held trust
SECTION 266-100 WHAT THIS SUBDIVISION IS ABOUT
A listed widely held trust:
Also, it may still be prevented from deducting the tax loss to the extent that it is attributable to certain debt deductions.