Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 707 - Losses for head companies when entities become members, etc  

Subdivision 707-C - Amount of transferred losses that can be utilised  

SECTION 707-355  

707-355   Ignore certain losses in working out when a choice can be made under this Subdivision  


In working out when a choice may be made under subsection 707-325(5) , 707-327(5) , 707-328A(4) or 707-350(5) , ignore losses to which section 713-535 of the Income Tax Assessment Act 1997 applies.
Note:

The section deals with losses transferred under Subdivision 707-A of that Act from certain wholly-owned subsidiaries of life insurance companies that are members of a consolidated group.


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