Income Tax Assessment Act 1997
For the purposes of step 6 in the table in section 705-60 , the step 6 amount is worked out by multiplying the sum of the losses mentioned in subsection (2) by the * corporate tax rate.
The losses are the joining entity's losses of any * sort that:
(a) were not * utilised by the joining entity for the income year in which the joining time occurred or any earlier income year; and
(b) did not accrue to the joined group before the joining time (see subsection 705-90(8) ); and
(c) are transferred to the * head company under Subdivision 707-A ; and
(d) are not cancelled under section 707-145 .
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