1 Has the head company cancelled the transfer of a loss?
A head company can make a choice to cancel the transfer of a loss of a joining entity. If the choice is made, the loss cannot be used by any entity for an income year ending after the joining time; see sections 707-145 and 707-150 of the ITAA 1997.
Print X in the appropriate box either Yes or No at item 1 – label A.
If the answer is Yes, complete item 2.
If the answer is No, go to Part C – Ownership test and business continuity test.
2 Details of cancellation of transfer of losses
Write at item 2 – labels B, D, F and H the TFNs of those joining entities that had transfers of one or more losses cancelled during the income year.
If the transfer of losses was cancelled for more than 4 joining entities, write the TFNs for only the 4 joining entities that had the largest total amounts of cancellation of transfer of losses.
Write at item 2 – labels C, E, G and I, as required, the total amount of the cancellation of the transfer of one or more losses for joining entities whose TFNs are recorded at labels B, D, F and H respectively.
Continue to: Part C – Ownership test and business continuity test