Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 415 - Designated infrastructure projects  

Subdivision 415-B - Tax losses and bad debts  

Change of ownership of trusts and companies

SECTION 415-30   Bad debts written off etc. by trusts  

Scope

415-30(1)    
This section applies to a debt to which paragraph 266-35(1)(a) , 266-85(1)(a) or (2)(a), 266-120(1)(a), 266-160(1)(a) or (b), 267-25(1)(a) or 267-65(1)(a) in Schedule 2F to the Income Tax Assessment Act 1936 applies, if the trust is a * designated infrastructure project entity at a time (the status time ) in the income year in which the debt was incurred.

Modifications of Schedule 2F to the Income Tax Assessment Act 1936

415-30(2)    
Despite paragraph 266-35(1)(b) , 266-85(1)(b) or (2)(b) , 266-120(1)(b) , 266-160(2)(a) , 267-25(1)(b) or 267-65(1)(a) in that Schedule, for the purposes of sections 266-40 and 266-45 , section 266-90 , subsections 266-125(1) and (2) , subsections 266-165(1) and (2) , sections 267-40 and 267-45 or sections 267-70 and 267-75 in that Schedule (whichever are applicable), the test period starts at the first time:

(a) that occurs after the status time; and

(b) at which the trust is not a * designated infrastructure project entity.

415-30(3)    
For the purposes of section 267-30 in that Schedule, disregard any part of an income year during which the trust is a * designated infrastructure project entity.