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 an earlier income year;
Subdivision 266-B - Effect of change in ownership of fixed trust
SECTION 266-15 WHAT THIS SUBDIVISION IS ABOUT
An ordinary fixed trust:
unless there has been continuity of ownership throughout a particular period or an exception relating to holdings by non-fixed trusts applies.
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 .
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.