Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-90
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CONSOLIDATED GROUPS
Division 707
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Losses for head companies when entities become members etc.
Subdivision 707-A
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Transfer of losses to head company
Objects
SECTION 707-110 707-110 Objects of this Subdivision
The main objects of this Subdivision are:
(a) to provide for the transfer of a loss from an entity (the joining entity ) becoming a * member of a * consolidated group to the * head company of the group (so the head company may be able to * utilise it), if the joining entity could have utilised the loss if it had not become a member of the group; and
(b) to prevent the utilisation by any entity of a loss made by the joining entity, if the joining entity could not have utilised the loss if it had not become a member of the group.
707-110(2)
(Repealed by No 88 of 2013)
View history note
Hide history noteSECTION 707-110 707-110 Objects of this Subdivision
The main objects of this Subdivision are:
(a) to provide for the transfer of a loss from an entity (the joining entity ) becoming a * member of a * consolidated group to the * head company of the group (so the head company may be able to * utilise it), if the joining entity could have utilised the loss if it had not become a member of the group; and
(b) to prevent the utilisation by any entity of a loss made by the joining entity, if the joining entity could not have utilised the loss if it had not become a member of the group.
(Repealed by No 88 of 2013)
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