Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 165-115J 165-115J Object of Subdivision
The main object of this Subdivision is to make appropriate adjustments (under section 165-115ZA ) to the tax values of significant equity and debt interests held directly or indirectly by entities other than individuals in a *loss company whose ownership or control alters.
The purpose of the adjustments is to prevent the duplication of the company's realised and unrealised losses when any of those interests are *disposed of or otherwise realised. This happens because the company's losses are reflected in the values of the interests.
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