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  

Subdivision 165-A - Deducting tax losses of earlier income years  

Operative provisions

SECTION 165-10   165-10   To deduct a tax loss  
A company cannot deduct a *tax loss unless either:


(a) it meets the conditions in section 165-12 (which is about the company maintaining the same owners); or

Note:

See section 165-215 for a special alternative to these conditions.


(b) it meets the condition in section 165-13 (which is about the company satisfying the business continuity test).

Note:

In the case of a widely held or eligible Division 166 company, Subdivision 166-A modifies how this Subdivision applies, unless the company chooses otherwise.


 

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