INCOME TAX ASSESSMENT ACT 1936

SCHEDULE 2D - TAX EXEMPT ENTITIES THAT BECOME TAXABLE  

Division 57 - Tax exempt entities that become taxable  

Subdivision 57-H - Domestic losses  

SECTION 57-75   57-75   DOMESTIC LOSSES  


In applying section 36-15 or 36-17 of the Income Tax Assessment Act 1997 (about how to deduct tax losses) to the transition taxpayer:


(a) only exempt income derived at or after the transition time is taken into account as exempt income of the transition taxpayer; and


(b) the transition taxpayer ' s deductions are taken into account only so far as they are in respect of:


(i) services rendered; or

(ii) goods provided; or

(iii) the doing of any other thing;
at or after the transition time.

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.