Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 165 - Income tax consequences of changing ownership or control of a company  

Subdivision 165-CB - Working out the net capital gain and the net capital loss for the income year of the change  

When a company must work out its net capital gain and net capital loss under this Subdivision

SECTION 165-102  

165-102   On a change of ownership, or of control of voting power, unless the company satisfies the business continuity test  
A company must calculate its *net capital gain and *net capital loss for the income year under this Subdivision if:


(a) it must calculate its taxable income and *tax loss for the income year under Subdivision 165-B ; or

Note:

Subdivision 165-F may affect the application of Subdivision 165-B .


(b) it would be required to calculate them under that Subdivision but for subsection 165-50(3) (about cases where that Subdivision would make no difference to the taxable income).

Note:

In the case of a widely held or eligible Division 166 company, Subdivision 166-B modifies how this Subdivision applies, unless the company chooses otherwise.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.