Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS

Division 165 - Income tax consequences of changing ownership or control of a company

Guide to Division 165

SECTION 165-1 What this Division is about

A change in the ownership or control of a company can affect:

• whether it can deduct its tax losses of earlier income years; and

• how it calculates its taxable income and tax loss for the income year of the change; and

• whether it can deduct debts owed to it that are written off as bad.