Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)
Schedule 1 Consolidation
Part 8 Certain losses not taken into account under step 3 of allocable cost amount
Income Tax Assessment Act 1997
24 After subsection 705-90(2)
(2A) However, if a loss that did not accrue to the joined group before the joining time (subsection (8) states what it means for a loss to accrue to the joined group before the joining time) would be taken into account in working out the undistributed profits, the loss is not so taken into account.