Income Tax Assessment Act 1997
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Hide history noteA company satisfies the business continuity test if throughout the *business continuity test period it carries on the same *business as it carried on immediately before the *test time.
165-210(2)
However, the company does not satisfy the *business continuity test under this section if, at any time during the *business continuity test period, it *derives assessable income from:
(a) a *business of a kind that it did not carry on before the *test time; or
(b) a transaction of a kind that it had not entered into in the course of its business operations before the *test time.
165-210(3)
The company also does not satisfy the *business continuity test under this section if, before the *test time, it:
(a) started to carry on a *business it had not previously carried on; or
(b) in the course of its business operations, entered into a transaction of a kind that it had not previously entered into;
and did so for the purpose, or for purposes including the purpose, of being taken to have carried on throughout the *business continuity test period the same business as it carried on immediately before the test time.
165-210(4)
So far as the *business continuity test under this section is applied for the purpose of Subdivision 165-B (which is about working out the taxable income and *tax loss for the income year of change of ownership or control), the company also does not satisfy the test if, at any time during the *business continuity test period, it incurs expenditure:
(a) in carrying on a *business of a kind that it did not carry on before the *test time; or
(b) as a result of a transaction of a kind that it had not entered into in the course of its business operations before the test time.
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