S 707-405 repealed by No 16 of 2003, s 3 and Sch 19 item 3, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec
700-1
of the
Income Tax (Transitional Provisions) Act 1997
). S 707-405 formerly read:
Modified operation of other provisions
707-405(1)
If:
(a)
an entity becomes a
*
member of a
*
consolidated group at a time; and
(b)
the entity makes a non-membership period loss described in section
701-30
for a non-membership period described in that section that ends before the time;
the other sections of this Division operate as if the loss had been made by the entity for an income year starting at the start of the period and ending at the end of the period.
707-405(2)
Subsection 701-30(7) has effect subject to this section.
S 707-405 inserted by No 68 of 2002, s 3 and Sch 1 item 2, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec
700-1
of the
Income Tax (Transitional Provisions) Act 1997
).
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