Treasury Laws Amendment (2017 Enterprise Incentives No. 1) Act 2019 (7 of 2019)
Schedule 1 Access to losses
Part 3 Consequential amendments
Income Tax Assessment Act 1997
37 Section 165-5
Omit:
(b) it satisfies the same business test by carrying on the same business, entering into no new kinds of transactions and conducting no new kinds of business.
substitute:
(b) it satisfies the business continuity test by carrying on the same business (including entering into no new kinds of transactions and conducting no new kinds of business), or by carrying on a similar business (on or after 1 July 2015).
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