Income Tax Assessment Act 1997



Division 175 - Use of a company ' s tax losses or deductions to avoid income tax  

Subdivision 175-D - Common rules  

SECTION 175-100   175-100   Commissioner may disallow excluded losses etc. of insolvent companies  

Despite a subsection listed in column 1, the Commissioner may, under a subsection listed in column 2, disallow some or all of an *excluded loss, deduction, or *capital loss, of a company (as the case requires) if:

(a)  the company is or becomes:

(i) a Chapter 5 body corporate within the meaning of the Corporations Act 2001 ; or

(ii) an entity with a similar status under a *foreign law to a Chapter 5 body corporate; and


the company is insolvent (within the meaning of section 9 of the Corporations Act 2001 ) when the company becomes an entity mentioned in subparagraph (a)(i) or (ii) .

Commissioner may disallow excluded losses etc. for insolvent companies
Item Column 1 Column 2
Despite this subsection... the Commissioner may disallow under this subsection:
  1 Subsection 175-10(2) Subsection 175-10(1)
  2 Subsection 175-15(2) Subsection 175-15(1)
  3 Subsection 175-20(2) Subsection 175-20(1)
  4 Subsection 175-25(2) Subsection 175-25(1)
  5 Subsection 175-30(4) Subsection 175-30(1) or (2)
  6 Subsection 175-45(2) Subsection 175-45(1)
  7 Subsection 175-50(2) Subsection 175-50(1)
  8 Subsection 175-60(2) Subsection 175-60(1)
  9 Subsection 175-65(2) Subsection 175-65(1)
10 Subsection 175-70(4) Subsection 175-70(1) or (2)
11 Subsection 175-85(2) Subsection 175-85(1)
11 Subsection 175-90(2) Subsection 175-90(1)


Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.