Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 715 - Interactions between this Part and other areas of the income tax law  

Subdivision 715-D - Treatment of company's deferred losses under Subdivision 170-D on joining a consolidated group  

Key terminology

SECTION 715-310   What is a 170-D deferred loss , and when it revives  

715-310(1)  
A * capital loss, deduction, or partner's share of a deduction, that section 170-270 (about transactions within linked groups) requires to be disregarded is a 170-D deferred loss made:


(a) by the company that paragraph 170-255(1)(a) refers to as the originating company; and


(b) at the time of the event that paragraph refers to as the deferral event; and


(c) on the * CGT asset * acquired by the other entity referred to in that paragraph.

715-310(2)  
The * 170-D deferred loss revives at the time when section 170-275 (as applying in relation to the deferral event) treats the originating company as having made a * capital loss, or having become entitled to a deduction, in respect of that asset.


 

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