Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-90
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CONSOLIDATED GROUPS
Division 707
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Losses for head companies when entities become members etc.
Subdivision 707-A
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Transfer of losses to head company
What happens if the loss is not transferred?
SECTION 707-150
707-150
Loss cannot be utilised for income year ending after the joining time
To the extent that the loss is not transferred under section 707-120 from the joining entity to the * head company of the joined group, the loss cannot be * utilised by any entity for an income year ending after the joining time.
View history note
Hide history noteTo the extent that the loss is not transferred under section 707-120 from the joining entity to the * head company of the joined group, the loss cannot be * utilised by any entity for an income year ending after the joining time.
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