Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 715 - Interactions between this Part and other areas of the income tax law  

Subdivision 715-A - Treatment of unrealised losses existing when ownership or control of a company changes before or during consolidation  

General provisions about loss denial pools

SECTION 715-165   When pool ceases to exist  

715-165(1)  
A * loss denial pool of a company ceases to exist when there is a * changeover time for the company.

Note:

The CGT assets in the pool then become subject to the application of Subdivision 165-CC (about change of ownership or control of a company that has an unrealised net loss).

715-165(2)  
A * loss denial pool of any entity ceases to exist:


(a) when there are no * CGT assets, and no * 170-D deferred losses, in the pool; or


(b) just after the * loss denial balance becomes nil; or


(c) when the entity becomes a * subsidiary member of a * consolidated group; or


(d) as mentioned in subsection 715-135(4) .


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