Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 707 - Losses for head companies when entities become members etc.  

Subdivision 707-A - Transfer of losses to head company  

What happens if the loss is not transferred?

SECTION 707-150   707-150   Loss cannot be utilised for income year ending after the joining time  


To the extent that the loss is not transferred under section 707-120 from the joining entity to the * head company of the joined group, the loss cannot be * utilised by any entity for an income year ending after the joining time.

 

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