Income Tax Assessment Act 1997
This section modifies Divisions 165 , 166 and 167 for the purposes of working out whether a company can *utilise a loss of any *sort that it made because of a transfer under Subdivision 707-A .
Subdivision 165-A and Divisions 166 and 167 operate for those purposes as if the *loss year started at the time of the transfer.
Without this section, those periods would start at the start of the income year in which the transfer occurred, so events occurring before the transfer (such as changes in holdings of voting power, rights to dividends or rights to capital) could affect whether the company could utilise the tax loss or net capital loss.
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