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-A - Deducting tax losses of earlier income years  

Operative provisions

SECTION 165-10   165-10   To deduct a tax loss  
A company cannot deduct a *tax loss unless either:


(a) it meets the conditions in section 165-12 (which is about the company maintaining the same owners); or

Note:

See section 165-215 for a special alternative to these conditions.


(b) it meets the condition in section 165-13 (which is about the company satisfying the business continuity test).

Note:

In the case of a widely held or eligible Division 166 company, Subdivision 166-A 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.