Income Tax Assessment Act 1936
SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS Division 266 - Income tax consequences for fixed trusts of abnormal trading or change in ownership
cannot deduct a tax loss from an earlier income year; or
has to work out its net income and tax loss for the income year in a special way; or
cannot deduct certain amounts in respect of debts incurred in the income year or earlier income years;
there was no abnormal trading; or
there was abnormal trading, but the trust
s ownership did not change.
Subdivision 266-E - Effect of abnormal trading on unlisted very widely held trust or wholesale widely held trust
SECTION 266-140 WHAT THIS SUBDIVISION IS ABOUT
An unlisted very widely held trust or a wholesale widely held trust:
The exceptions mentioned in this section apply differently in relation to designated infrastructure project entities: see sections 415-25 and 415-30 of the Income Tax Assessment Act 1997 .
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