INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 170 - Treatment of certain company groups for income tax purposes  

Subdivision 170-A - Transfer of tax losses within certain wholly-owned groups of companies  

Effect of agreement to transfer more than can be transferred

SECTION 170-65   Agreement transfers as much as can be transferred  

170-65(1)  
If the amount specified in an agreement exceeds the maximum amount that the *loss company can transfer to the *income company in the *deduction year, only that maximum amount is taken to have been transferred.

170-65(2)  
One reason why an agreement might specify more than can be transferred is that an assessment has been amended since the agreement.


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