FINANCIAL CORPORATIONS (TRANSFER OF ASSETS AND LIABILITIES) ACT 1993 (ARCHIVE)
SCHEDULE 1
Subdivision 170-A
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Transfer of tax losses from a transferring corporation to a receiving corporation
Conditions for transfer
SECTION 170-33 (ARCHIVE) THE TRANSFER YEAR 170-33(1)
The *transfer year must either:
(a) end at the end of the *notional transfer year; or
(b) correspond to the income year of the *loss company that next follows the *notional transfer year.
170-33(2)
Also, the *transfer year must be one of the 10 income years after the income year in which the Financial Corporations (Transfer of Assets and Liabilities) Act 1993 commenced.
TAX LOSSES AND THE INCOME TAX ASSESSMENT ACT 1997
*To find definitions of asterisked terms, see the Dictionary, starting at section 995-1 of the Income Tax Assessment Act 1997 .
SECTION 170-33 (ARCHIVE) THE TRANSFER YEAR 170-33(1)
The *transfer year must either:
(a) end at the end of the *notional transfer year; or
(b) correspond to the income year of the *loss company that next follows the *notional transfer year.
170-33(2)
Also, the *transfer year must be one of the 10 income years after the income year in which the Financial Corporations (Transfer of Assets and Liabilities) Act 1993 commenced.
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