Income Tax Assessment Act 1936
SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS Division 267 - Income tax consequences for non-fixed trusts of change in ownership or control
a tax loss from a loss year; or
certain amounts in respect of debts incurred in earlier income years;
if applicable, it meets an ownership test based on income and capital distributions; and
it did not fail that test in a previous year; and
if applicable, it meets an ownership test based on fixed entitlements to income and capital; and
its control has stayed the same.
Subdivision 267-B - Deducting tax losses, and certain amounts in respect of debts, from earlier years
SECTION 267-15 WHAT THIS SUBDIVISION IS ABOUT
A non-fixed trust cannot deduct:
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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