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  

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.

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