Income Tax Assessment Act 1997

Subdiv 165-E heading substituted by No 7 of 2019, s 3 and Sch 1 item 81, effective 1 April 2019 and applicable in relation to income years starting on or after 1 July 2015. The heading formerly read:

Subdivision 165-E - The same business test

S 165-212C repealed by No 164 of 2007 , s 3 and Sch 6 item 1, applicable to:

(a) any tax loss that is incurred in an income year commencing on or after 1 July 2005; and

(b) any net capital loss that is made in an income year commencing on or after 1 July 2005; and

(c) any deduction in respect of a bad debt that is incurred in an income year commencing on or after 1 July 2005.

S 165-212C formerly read:

SECTION 165-212C Total income of companies who cannot work out their total income for a 12 month period  
165-212C(1)
This section sets out how to apply sections 165-212A and 716-805 if:

(a) the company does not exist for the whole income year; or

(b) the company is a *subsidiary member of a *consolidated group or a *MEC group for a part of the income year.

165-212C(2)
The *total income of the company for the income year is the amount that the company reasonably estimates would be the total income if:

(a) the company were in existence for the whole of the income year; and

(b) the company were not a *subsidiary member of a *consolidated group or a *MEC group at any time during the year.

165-212C(3)
This section applies instead of section 716-850 (which is about grossing up threshold amounts).

S 165-212C inserted by No 147 of 2005 , s 3 and Sch 1 item 76, effective 14 December 2005. For application provision, see note under s 165-13(1).