INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 170 - Treatment of company groups for income tax purposes  

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

SECTION 170-45   170-45   Special rules affecting utilisation of losses in a bundle do not affect the amount of a tax loss that can be transferred  


In working out an amount under subsection 170-45(4) of the Income Tax Assessment Act 1997 (which may limit the amount of a tax loss that can be transferred under Subdivision 170-A of that Act), disregard these sections of this Act:


(a) section 707-325 (which lets the available fraction for a bundle of losses be greater than it would otherwise be);


(b) section 707-327 (which effectively lets the available fraction relevant to the utilisation of a loss be chosen in some cases);


(c) section 707-350 (which sets the limit on utilising certain losses in a bundle).




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