Income Tax Assessment Act 1936
SCHEDULE 2F
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TRUST LOSSES AND OTHER DEDUCTIONS
Division 267
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Income tax consequences for non-fixed trusts of change in ownership or control
Subdivision 267-C
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Current year net income and tax loss, and certain debts incurred in current year
SECTION 267-55
WHAT THIS SUBDIVISION IS ABOUT
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must work out its net income and tax loss for the income year in a special way; or
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cannot deduct certain amounts in respect of debts incurred in the income year;
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if applicable, it meets an ownership test relating to fixed entitlements to shares of income and capital; and
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its control has stayed the same.
View history note
Hide history noteA non-fixed trust:
unless:
Note:
The exceptions mentioned in this section apply differently in relation to designated infrastructure project entities: see sections 415-25 and 415-30 of the Income Tax Assessment Act 1997 .
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