INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 709 - Other rules applying when entities become subsidiary members etc.  

Subdivision 709-D - Deducting bad debts  

SECTION 709-200   What this Subdivision is about  


An entity can deduct a bad debt that:

  • (a) has for a period been owed to a member of a consolidated group; and
  • (b) has for another period been owed to an entity that was not a member of that group;
  • only if each entity that has been owed the debt for such a period could have deducted the debt had it been written off as bad at the end of the period. This applies even if the debt is owed to the same entity for different periods.


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