Income Tax Assessment Act 1997
CHAPTER 3
-
SPECIALIST LIABILITY RULES
PART 3-90
-
CONSOLIDATED GROUPS
The * head company of the joined group may choose to cancel the transfer of the loss. 707-145(2)
If the * head company of the joined group does so, this Act (except this section) operates for all income years ending after the transfer as if it had not occurred under section 707-120 . 707-145(3)
The choice cannot be revoked.
Division 707
-
Losses for head companies when entities become members etc.
Subdivision 707-A
-
Transfer of losses to head company
Cancelling the transfer of the loss
SECTION 707-145
Cancelling the transfer of the loss
707-145(1)
The * head company of the joined group may choose to cancel the transfer of the loss. 707-145(2)
If the * head company of the joined group does so, this Act (except this section) operates for all income years ending after the transfer as if it had not occurred under section 707-120 . 707-145(3)
The choice cannot be revoked.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.