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
must 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;
if applicable, it meets an ownership test relating to fixed entitlements to shares of income and capital; and
its control has stayed the same.
Subdivision 267-C - Current year net income and tax loss, and certain debts incurred in current year
SECTION 267-55 WHAT THIS SUBDIVISION IS ABOUT
A non-fixed 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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