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Income Tax (Transitional Provisions) Act 1997
- CHAPTER 1 - INTRODUCTION AND CORE PROVISIONS
- PART 1-1 - PRELIMINARY
- Division 1 - Preliminary
- SECTION 1-1 Short title
- SECTION 1-5 Commencement
- SECTION 1-7 Administration of this Act
- SECTION 1-10 Definitions and rules for interpreting this Act
- PART 1-3 - CORE PROVISIONS
- Division 4 - How to work out the income tax payable on your taxable income
- SECTION 4-1 Application of the Income Tax Assessment Act 1997
- ### (Repealed) SECTION 4-10 Temporary flood and cyclone reconstruction levy
- SECTION 4-11 Temporary budget repair levy
- Division 5 - How to work out when to pay your income tax
- Subdivision 5-A - How to work out when to pay your income tax
- SECTION 5-5 Application of Division 5 of the Income Tax Assessment Act 1997
- SECTION 5-7 References in tax sharing agreements to former section 204
- SECTION 5-10 General interest charge liabilities under former subsection 204(3)
- SECTION 5-15 Application of section 5-15 of the Income Tax Assessment Act 1997
- Division 6 - Assessable income and exempt income
- SECTION 6-2 Effect of this Division
- SECTION 6-3 Assessable income for income years before 1997-98
- SECTION 6-20 Exempt income for income years before 1997-98
- Division 8 - Deductions
- SECTION 8-2 Effect of this Division
- SECTION 8-3 Deductions for income years before 1997-98
- SECTION 8-10 No double deductions for income year before 1997-98 and income year after 1996-97
- CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION
- PART 2-1 - ASSESSABLE INCOME
- Division 15 - Some items of assessable income
- SECTION 15-1 General application provision
- SECTION 15-10 Application of section 15-10 of the Income Tax Assessment Act 1997 to bounties and subsidies
- SECTION 15-15 Application of section 15-15 of the Income Tax Assessment Act 1997 to profit-making undertaking or plan
- SECTION 15-20 Application of section 15-20 of the Income Tax Assessment Act 1997 to royalties
- SECTION 15-30 Application of section 15-30 of the Income Tax Assessment Act 1997 to insurance or indemnity payments
- SECTION 15-35 Application of section 15-35 of the Income Tax Assessment Act 1997 to interest on overpayments and early payments of tax
- Division 20 - Items included to reverse the effect of past deductions
- Subdivision 20-A - Insurance, indemnity or recoupment for deductible expenses
- SECTION 20-1 Application of Subdivision 20-A of the Income Tax Assessment Act 1997
- Subdivision 20-B - Disposal of a car for which lease payments have been deducted
- SECTION 20-100 Application of Subdivision 20-B of the Income Tax Assessment Act 1997
- SECTION 20-105 The cost of a car acquired in the 1996-97 income year or an earlier income year
- SECTION 20-110 The termination value of a car disposed of in the 1996-97 income year or an earlier income year
- SECTION 20-115 Reducing the assessable amount for the disposal of a car in the 1997-98 income year or later if there has been an earlier disposal of it
- (Repealed) Division 22 - Amounts you must repay are not assessable income
- ### (Repealed) SECTION 22-5 Application of Division 22 of the Income Tax Assessment Act 1997
- PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS
- Division 25 - Some amounts you can deduct
- SECTION 25-1 Application of Division 25 of the Income Tax Assessment Act 1997
- SECTION 25-40 Application of section 25-40 of the Income Tax Assessment Act 1997
- SECTION 25-45 Application of section 25-45 of the Income Tax Assessment Act 1997
- SECTION 25-50 Application of section 25-90 of the Income Tax Assessment Act 1997
- SECTION 25-65 Local government election expenses
- Division 26 - Some amounts you cannot deduct, or cannot deduct in full
- SECTION 26-1 Application of Division 26 of the Income Tax Assessment Act 1997
- SECTION 26-30 Application of section 26-30 of the Income Tax Assessment Act 1997
- Division 30 - Gifts or contributions
- SECTION 30-1 Application of Division 30 of the Income Tax Assessment Act 1997
- SECTION 30-5 Keeping in force old declarations and instruments
- ### (Repealed) SECTION 30-10 Applications for approval of testamentary gifts not yet decided
- ### (Repealed) SECTION 30-15 Keeping in force the guidelines for deciding testamentary gifts
- ### (Repealed) SECTION 30-20 Keeping in force certificates approving testamentary gifts
- SECTION 30-25 Keeping in force the old gifts registers
- SECTION 30-102 Fund, authorities and institutions taken to be endorsed
- Division 32 - Entertainment expenses
- SECTION 32-1 Application of Division 32 of the Income Tax Assessment Act 1997
- Division 34 - Non-compulsory uniforms
- SECTION 34-1 Application of Division 34 of the Income Tax Assessment Act 1997
- SECTION 34-5 Things done under former section 51AL of the Income Tax Assessment Act 1936
- Division 35 - Deferral of losses from non-commercial business activities
- SECTION 35-10 Deductions for certain new business investment
- SECTION 35-20 Application of Commisioner's decisions
- Division 36 - Tax losses of earlier income years
- SECTION 36-100 Tax losses for the 1997-98 and later income years
- SECTION 36-105 Tax losses for 1989-90 to 1996-97 income years
- SECTION 36-110 Tax losses for 1957-58 to 1988-89 income years
- PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE
- Division 40 - Capital allowances
- Subdivision 40-B - Core provisions
- SECTION 40-10 Plant
- SECTION 40-12 Plant acquired after 30 June 2001
- SECTION 40-13 Accelerated depreciation for split or merged plant
- SECTION 40-15 Recalculating effective life
- SECTION 40-20 IRUs
- SECTION 40-25 Software
- SECTION 40-30 Spectrum licences
- SECTION 40-33 Datacasting transmitter licences
- SECTION 40-35 Mining unrecouped expenditure
- SECTION 40-37 Post-30 June 2001 mining expenditure
- SECTION 40-38 Mining cash bidding payments
- SECTION 40-40 Transport expenditure
- SECTION 40-43 Post-30 June 2001 transport expenditure
- SECTION 40-44 No additional decline in certain cases
- SECTION 40-45 Intellectual property
- SECTION 40-47 IRUs
- SECTION 40-50 Forestry roads and timber mill buildings
- SECTION 40-55 Environmental impact assessment
- SECTION 40-60 Pooling under Subdivision 42-L of the former Act
- SECTION 40-65 Substituted accounting periods
- SECTION 40-67 Methods for working out decline in value
- SECTION 40-70 References to amounts deducted and reductions in deductions
- SECTION 40-72 New diminishing value method not to apply in some cases
- SECTION 40-75 Mining expenditure incurred after 1 July 2001 on an asset
- SECTION 40-77 Mining, quarrying or prospecting rights or information held before 1 July 2001
- SECTION 40-80 Other expenditure incurred after 1 July 2001 on a depreciating asset
- ### (Repealed) SECTION 40-95 Accelerated depreciation for split or merged plant
- SECTION 40-100 Commissioner's determination of effective life
- SECTION 40-105 Calculations of effective life
- Subdivision 40-BA - Backing business investment
- SECTION 40-120 Backing business investment - accelerated decline in value for businesses with turnover less than $500 million
- SECTION 40-125 Backing business investment - when an asset of yours qualifies
- SECTION 40-130 Method for working out accelerated decline in value
- SECTION 40-135 Division 40 of the Income Tax Assessment Act 1997 applies to later years
- SECTION 40-137 Choice to not apply this Subdivision to an asset
- Subdivision 40-BB - Temporary full expensing of depreciating assets
- SECTION 40-140 Definitions
- SECTION 40-145 Interaction with other provisions
- SECTION 40-150 When an asset of yours qualifies for full expensing
- SECTION 40-155 Businesses with turnover under $5 billion
- SECTION 40-157 Corporate tax entities with income under $5 billion
- SECTION 40-160 Full expensing of first and second element of cost for post-2020 budget assets
- SECTION 40-165 Exclusions - entities covered by section 40-155 or 40-157
- SECTION 40-167 Exclusions - entities covered by section 40-157
- SECTION 40-170 Full expensing of eligible second element of cost
- SECTION 40-175 When is an amount included in the eligible second element
- SECTION 40-180 Division 40 of the Income Tax Assessment Act 1997 applies to later years
- SECTION 40-185 Balancing adjustment for assets not used or located in Australia
- SECTION 40-190 Choice to not apply this Subdivision to an asset for an income year
- Subdivision 40-C - Cost
- SECTION 40-230 Car limit
- Subdivision 40-D - Balancing adjustments
- SECTION 40-285 Balancing adjustments
- SECTION 40-287 Disposal of pre-1 July 2001 mining depreciating asset to associate
- SECTION 40-288 Disposal of pre-1 July 2001 mining non-depreciating asset to associate
- SECTION 40-289 Surrendered firearms
- SECTION 40-290 Reduction of deductions under former Act etc.
- SECTION 40-292 Balancing adjustment - assets used for both general tax purposes and R & D activities
- SECTION 40-293 Balancing adjustment - partnership assets used for both general tax purposes and R & D activities
- SECTION 40-295 Later year relief
- SECTION 40-340 Roll-overs
- SECTION 40-345 Balancing adjustments for depreciating assets that retain CGT indexation
- SECTION 40-365 Involuntary disposals
- Subdivision 40-E - Low-value and software development pools
- SECTION 40-420 Low-value pools under Division 42 continue
- ### (Repealed) SECTION 40-425 Allocating depreciating assets to low-value pools
- SECTION 40-430 Allocating assets to low-value pools
- SECTION 40-450 Software development pools
- Subdivision 40-F - Primary production depreciating assets
- SECTION 40-515 Water facilities, grapevines and horticultural plants
- SECTION 40-520 Special rule for water facilities you no longer hold
- SECTION 40-525 Amounts deducted for water facilities
- Subdivision 40-G - Capital expenditure of primary producers and other landholders
- SECTION 40-645 Electricity supply and telephone lines
- SECTION 40-650 Special rule for land that you no longer hold
- SECTION 40-670 Farm consultants
- Subdivision 40-I - Capital expenditure that is deductible over time
- SECTION 40-825 Genuine prospectors
- SECTION 40-832 New method not to apply in some cases
- Subdivision 40-J - Ships depreciated under section 57AM of the Income Tax Assessment Act 1936
- SECTION 40-840 Ships depreciated under section 57AM of the Income Tax Assessment Act 1936
- Division 43 - Deductions for capital works
- SECTION 43-100 Application of Division 43 to quasi-ownership rights over land
- SECTION 43-105 Application of subsections 43-50(1) and (2) to hotel buildings and apartment buildings
- SECTION 43-110 Application of subsection 43-75(3)
- Division 45 - Disposal of leases and leased plant
- SECTION 45-1 Application of Division 45 of the Income Tax Assessment Act 1997
- SECTION 45-3 Application of Division 45 to disposals between February 1999 and September 1999
- SECTION 45-40 Application of Division to plant formerly owned by exempt entities
- PART 2-15 - NON-ASSESSABLE INCOME
- Division 50 - Exempt entities
- SECTION 50-1 Application of Division 50 of the Income Tax Assessment Act 1997
- SECTION 50-50 Charities established prior to 1 July 1997
- Division 51 - Exempt amounts
- SECTION 51-1 Application of Division 51 of the Income Tax Assessment Act 1997
- Division 52 - Certain pensions, benefits and allowances are exempt from income tax
- SECTION 52-1 Application of Division 52 of the Income Tax Assessment Act 1997
- ### (Repealed) SECTION 52-5 Application of Subdivision 52-D of the Income Tax Assessment Act 1997
- Division 53 - Various exempt payments
- SECTION 53-1 Application of Division 53 of the Income Tax Assessment Act 1997
- Division 54 - Exemption for certain payments made under structured settlements and structured orders
- SECTION 54-1 Application of Division 54 of the Income Tax Assessment Act 1997
- Division 55 - Payments that are not exempt from income tax
- SECTION 55-1 Application of Division 55 of the Income Tax Assessment Act 1997
- Division 59 - Particular amounts of non-assessable non-exempt income
- Subdivision 59-N - Native title benefits
- SECTION 59-50 Indigenous holding entities
- PART 2-20 - TAX OFFSETS
- Division 61 - Generally applicable tax offsets
- Subdivision 61-L - Tax offset for Medicare levy surcharge (lump sum payments in arrears)
- SECTION 61-575 Application of Subdivision 61-L of the Income Tax Assessment Act 1997
- (Repealed) Division 67 - Refundable tax offset rules
- (Repealed) Subdivision 67-L - Notices of totals of tax offset refunds for 2012-13 income year
- ### (Repealed) SECTION 67-100 Notices of total of tax offset refunds
- ### (Repealed) SECTION 67-105 Deemed notices
- ### (Repealed) SECTION 67-110 Requests for notices
- ### (Repealed) SECTION 67-115 Effect of notices
- ### (Repealed) SECTION 67-120 Amendment of notices
- ### (Repealed) SECTION 67-125 Validity of notices
- ### (Repealed) SECTION 67-130 Evidence
- ### (Repealed) SECTION 67-135 Review of notices
- PART 2-25 - TRADING STOCK
- Division 70 - Trading stock
- SECTION 70-1 Application of Division 70 of the Income Tax Assessment Act 1997
- SECTION 70-10 Accounting for your disposal of items that stop being trading stock because of the change of definition
- SECTION 70-20 Application of section 70-20 of the Income Tax Assessment Act 1997 to trading stock bought on or after 1 July 1997
- ### (Repealed) SECTION 70-35 Transitional provision for partnerships with live stock
- ### (Repealed) SECTION 70-40 Value of trading stock at the start of the 1997-98 income year
- ### (Repealed) SECTION 70-41 Value of trading stock at the start of the 2001-2002 income year - oysters acquired by using the traditional stick farming method
- SECTION 70-55 Cost of live stock acquired by natural increase
- SECTION 70-70 Valuing interests in FIFs on hand at the start of 1991-92
- SECTION 70-90 Application of sections 70-90 and 70-95 of the Income Tax Assessment Act 1997 to disposals of trading stock outside the ordinary course of business
- SECTION 70-100 Application of section 70-100 of the Income Tax Assessment Act 1997 to disposals of trading stock outside ordinary course of business
- SECTION 70-105 Application of section 70-105 of the Income Tax Assessment Act 1997 to deaths on or after 1 July 1997
- SECTION 70-115 Application of section 70-115 of the Income Tax Assessment Act 1997 to insurance and indemnity payments in 1997-98 and later income years
- PART 2-40 - RULES AFFECTING EMPLOYEES AND OTHER TAXPAYERS RECEIVING PAYG WITHHOLDING PAYMENTS
- Division 82 - Pre-10 May 2006 entitlements to life benefit termination payments
- Subdivision 82-A - Application of Division
- SECTION 82-10 Pre-10 May 2006 entitlements - transitional termination payments
- Subdivision 82-B - Transitional termination payments: general
- SECTION 82-10A Recipient has reached preservation age
- SECTION 82-10B Lower cap amount
- SECTION 82-10C Recipient under preservation age
- SECTION 82-10D Upper cap amount
- Subdivision 82-C - Pre-payment statements
- SECTION 82-10E Transitional termination payments - pre-payment statements
- Subdivision 82-D - Directed termination payments made to superannuation and other entities
- SECTION 82-10F Directed termination payments
- SECTION 82-10G Directed termination payments not assessable income and not exempt income
- Subdivision 82-E - Pre-10 May 2006 entitlements and employment termination payments made after 1 July 2012
- SECTION 82-10H Transitional termination payments may reduce ETP cap amount for payments under section 82-10 after 1 July 2012
- Division 83A - Employee share schemes
- Subdivision 83A-A - Application of Division 83A of the Income Tax Assessment Act 1997
- SECTION 83A-5 Application of Division 83A of the Income Tax Assessment Act 1997
- Subdivision 83A-B - Application of former provisions of the Income Tax Assessment Act 1936
- SECTION 83A-10 Savings - continued operation of former provisions
- SECTION 83A-15 Indeterminate rights
- CHAPTER 3 - SPECIALIST LIABILITY RULES
- PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS
- Division 102 - Application of Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997
- SECTION 102-1 Application of Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997
- SECTION 102-5 Working out capital gains and capital losses
- SECTION 102-15 Applying net capital losses
- SECTION 102-20 Net capital gains, capital gains and capital losses for income years before 1998-99
- SECTION 102-25 Transitional capital gains tax provisions for certain Cocos (Keeling) Islands and Norfolk Island assets
- Division 104 - CGT events
- Subdivision 104-C - End of a CGT asset
- SECTION 104-25 Cancellation, surrender and similar endings
- Subdivision 104-D - Bringing into existence a CGT asset
- SECTION 104-40 Granting an option
- Subdivision 104-E - Trusts
- SECTION 104-70 Capital payment before 18 December 1986 for trust interest
- Subdivision 104-G - Shares
- SECTION 104-135 Capital payment for shares
- Subdivision 104-I - Australian residency ends
- SECTION 104-165 Choices made under subsection 104-165(2) of the Income Tax Assessment Act 1997
- SECTION 104-166 Subsection 104-165(1) still applies if you continue to be a short term Australian resident
- Subdivision 104-J - CGT events relating to roll-overs
- SECTION 104-175 Company ceasing to be member of wholly-owned group after roll-over
- SECTION 104-185 Change of status of replacement asset for a roll-over under Division 17A of former Part IIIA of the 1936 Act or Division 123 of the 1997 Act
- ### (Repealed) SECTION 104-190 Change of circumstances where a share or interest is a replacement asset for a roll-over under Division 17A of former Part IIIA of the 1936 Act or Division 123 of the 1997 Act
- Subdivision 104-K - Other CGT events
- SECTION 104-205 Partial realisation of intellectual property
- SECTION 104-235 CGT event K7: asset used for old law R & D activities
- Division 108 - CGT assets
- Subdivision 108-A - What a CGT asset is
- SECTION 108-5 CGT assets
- Subdivision 108-B - Collectables
- SECTION 108-15 Sets of collectables
- Subdivision 108-D - Separate CGT assets
- SECTION 108-75 Capital improvements to CGT assets for which a roll-over may be available
- SECTION 108-85 Improvement threshold
- Division 109 - Acquisition of CGT assets
- Subdivision 109-A - Operative rules
- SECTION 109-5 General acquisition rules
- Division 110 - Cost base and reduced cost base
- Subdivision 110-A - Cost base
- SECTION 110-25 Cost base of CGT asset of life insurance company or registered organisation
- SECTION 110-35 Incidental costs
- Division 112 - Modifications to cost base and reduced cost base
- Subdivision 112-A - General rules
- SECTION 112-20 Market value substitution rule
- Subdivision 112-B - Special rules
- SECTION 112-100 Effect of terminated gold mining exemptions
- Division 114 - Indexation of cost base
- SECTION 114-5 When indexation relevant
- Division 118 - Exemptions
- Subdivision 118-A - General exemptions
- SECTION 118-10 Interests in collectables
- SECTION 118-24A Pilot plant
- Subdivision 118-B - Main residence
- SECTION 118-110 Foreign residents
- SECTION 118-195 Exemption - dwelling acquired from deceased estate
- Subdivision 118-C - Goodwill
- SECTION 118-260 Business exemption threshold
- Division 121 - Record keeping
- SECTION 121-15 Retaining records under Division 121
- SECTION 121-25 Records for mergers between qualifying superannuation funds
- PART 3-3 - CAPITAL GAINS AND LOSSES: SPECIAL TOPICS
- Division 124 - Replacement-asset roll-overs
- Subdivision 124-C - Statutory licences
- SECTION 124-140 New statutory licence - ASGE licence etc
- SECTION 124-141 ASGE licence etc - cost base of ineligible part
- SECTION 124-142 ASGE licence etc. - cost base of aquifer access licence etc.
- Subdivision 124-I - Change of incorporation
- SECTION 124-510 APPLICATION OF SUBDIVISION 124-I OF THE INCOME TAX ASSESSMENT ACT 1997
- Division 125 - Demerger relief
- Subdivision 125-B - Consequences for owners of interests
- SECTION 125-75 Employee share schemes
- Division 126 - Roll-overs
- Subdivision 126-A - Merger of qualifying superannuation funds
- SECTION 126-100 Merger of qualifying superannuation funds
- Subdivision 126-B - Transfer of life insurance business
- SECTION 126-150 Roll-over on transfer of life insurance business
- ### (Repealed) SECTION 126-155 When there is a roll-over
- SECTION 126-160 Effects of roll-over
- SECTION 126-165 References to Subdivision 126-B of the Income Tax Assessment Act 1997
- Division 128 - Effect of death
- SECTION 128-15 Effect on the legal personal representative or beneficiary
- Division 130 - Investments
- Subdivision 130-A - Bonus shares and units
- SECTION 130-20 Issue of bonus shares or units
- Subdivision 130-B - Rights
- SECTION 130-40 Exercise of rights
- Subdivision 130-C - Convertible notes
- SECTION 130-60 Shares or units acquired by converting a convertible note
- (Repealed) Subdivision 130-DA - Employee share schemes
- ### (Repealed) SECTION 130-80 Extension of trust holding period
- (Repealed) Subdivision 130-D - Employee share schemes
- ### (Repealed) SECTION 130-95 Application of Subdivision
- ### (Repealed) SECTION 130-100 Cost base modification
- ### (Repealed) SECTION 130-105 Time of acquisition
- ### (Repealed) SECTION 130-110 Disposals by trustees
- ### (Repealed) SECTION 130-115 Deceased estates
- ### (Repealed) SECTION 130-120 Amendment of assessments
- Division 134 - Options
- SECTION 134-1 Exercise of options
- Division 136 - Foreign residents
- Subdivision 136-A - Making a capital gain or loss
- SECTION 136-25 When an asset is taxable Australian property
- Division 137 - Granny flat arrangements
- Subdivision 137-A - Granny flat arrangements
- SECTION 137-10 Applicable CGT events
- Division 140 - Share value shifting
- Subdivision 140-A - When is there share value shifting?
- SECTION 140-7 Pre-1994 share value shifts irrelevant
- SECTION 140-15 Off-market buy backs
- Division 149 - When an asset stops being a pre-CGT asset
- SECTION 149-5 Assets that stopped being pre-CGT assets under old law
- Division 152 - Small business relief
- SECTION 152-5 Small business roll-over chosen but no capital gain returned
- SECTION 152-10 Small business roll-over not chosen and time remains to acquire a replacement asset
- SECTION 152-15 Amendment of assessments
- PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS
- (Repealed) Division 160 - Loss carry back tax offset
- (Repealed) Subdivision 160-A - Application of Division 160 of the Income Tax Assessment Act 1997
- ### (Repealed) SECTION 160-1 Application of Division 160 of the Income Tax Assessment Act 1997
- ### (Repealed) SECTION 160-5 Modification for 2012-13 income year - no carry back to 2010-11 income year
- Division 165 - Income tax consequences of changing ownership or control of a company
- Subdivision 165-CA - Applying net capital losses of earlier income years
- SECTION 165-95 Application of Subdivision 165-CA of the Income Tax Assessment Act 1997
- Subdivision 165-CB - Working out the net capital gain and the net capital loss for the income year of the change
- SECTION 165-105 Application of Subdivision 165-CB of the Income Tax Assessment Act 1997
- Subdivision 165-CC - Change of ownership or control of company that has an unrealised net loss
- SECTION 165-115E Choice to use global method to work out unrealised net loss
- Subdivision 165-CD - Reductions after alterations in ownership or control of loss company
- SECTION 165-115U Choice to use global method to work out adjusted unrealised loss
- SECTION 165-115ZC When certain notices to be given
- SECTION 165-115ZD Adjustment (or further adjustment) for interest realised at a loss after global method has been used
- Subdivision 165-C - Deducting bad debts
- SECTION 165-135 Application of Subdivision 165-C of the Income Tax Assessment Act 1997
- Division 166 - Income tax consequences of changing ownership or control of a listed public company
- Subdivision 166-C - Deducting bad debts
- SECTION 166-40 Application of Subdivision 166-C of the Income Tax Assessment Act 1997
- Division 167 - Companies whose shares carry unequal rights to dividends, capital distributions or voting power
- SECTION 167-1 Application of provisions
- Division 170 - Treatment of company groups for income tax purposes
- Subdivision 170-A - Transfer of tax losses within certain wholly-owned groups of companies
- SECTION 170-45 Special rules affecting utilisation of losses in a bundle do not affect the amount of a tax loss that can be transferred
- SECTION 170-55 Ordering rule for losses previously transferred under subdivision 707-A of the Income Tax Assessment Act 1997
- Subdivision 170-B - Transfer of net capital losses within certain wholly-owned groups of companies
- SECTION 170-101 Application of Subdivision 170-B of the Income Tax Assessment Act 1997
- SECTION 170-145 Special rules affecting utilisation of losses in a bundle do not affect the amount of a net capital loss that can be transferred
- SECTION 170-155 Ordering rule for losses previously transferred under Subdivision 707-A of the Income Tax Assessment Act 1997
- ### (Repealed) SECTION 170-175 Direct and indirect interests in the loss company
- ### (Repealed) SECTION 170-180 Direct and indirect interests in the gain company
- Subdivision 170-C - Provisions applying to both transfers of tax losses and transfers of net capital losses within wholly-owned groups of companies
- SECTION 170-220 Direct and indirect interests in the loss company
- SECTION 170-225 Direct and indirect interests in the gain company
- Subdivision 170-D - Transfer of life insurance business
- SECTION 170-300 Transfer of life insurance business
- Division 175 - Use of a company ' s losses, deductions or bad debts to avoid income tax
- Subdivision 175-CA - Tax benefits from unused net capital losses of earlier income years
- SECTION 175-40 Application of Subdivision 175-CA of the Income Tax Assessment Act 1997
- Subdivision 175-CB - Tax benefits from unused capital losses of the current year
- SECTION 175-55 Application of Subdivision 175-CB of the Income Tax Assessment Act 1997
- Subdivision 175-C - Tax benefits from unused bad debt deductions
- SECTION 175-78 Application of Subdivision 175-C of the Income Tax Assessment Act 1997
- Division 197 - Tainted share capital accounts
- Subdivision 197-A - Definitions
- SECTION 197-1 Definitions
- Subdivision 197-B - General application provision
- SECTION 197-5 Application of new Division 197
- Subdivision 197-C - Special provisions about companies whose share capital accounts were tainted when old Division 7B was closed off
- SECTION 197-10 Subdivision applies to companies whose share capital accounts were tainted when old Division 7B was closed off
- SECTION 197-15 Account taken to have ceased to be tainted when old Division 7B was closed off
- SECTION 197-20 After introduction day, account taken to have become tainted under new Division 197 to extent of previous tainting
- SECTION 197-25 Special provisions if company chooses to untaint after introduction day
- PART 3-6 - THE IMPUTATION SYSTEM
- Division 201 - Object and application of Part 3-6
- SECTION 201-1 Estimated debits
- Division 203 - Benchmark rule
- SECTION 203-1 Franking periods straddling 1 July 2002
- Division 205 - Franking accounts
- SECTION 205-1 Order of events provision
- SECTION 205-5 Washing estimated debits out of the franking account before conversion
- SECTION 205-10 Converting the franking account balance to a tax paid basis - companies whose 2001-02 franking year ends on 30 June 2002
- SECTION 205-15 Converting the franking account balance to a tax paid basis - companies whose 2001-02 franking year ends before 30 June 2002
- SECTION 205-20 A late balancing company may elect to have its FDT liability determined on 30 June
- SECTION 205-25 Franking deficit tax
- SECTION 205-30 Deferring franking deficit
- SECTION 205-35 No franking deficit tax if franking account in deficit at the close of the 2001-02 income year of a late balancing entity
- SECTION 205-70 Tax offset arising from franking deficit tax liabilities
- SECTION 205-71 Modification of franking deficit tax offset rules
- SECTION 205-75 Working out the tax offset for the first income year
- SECTION 205-80 Application of Subdivision C of Division 5 of former Part IIIAA of the Income Tax Assessment Act 1936
- Division 208 - Exempting entities and former exempting entities
- SECTION 208-111 Converting former exempting company ' s exempting account balance on 30 June 2002
- Division 210 - Venture capital franking
- SECTION 210-1 Order of events provision
- SECTION 210-5 Washing estimated venture capital debits out of the old sub-account before conversion
- SECTION 210-10 Converting the venture capital sub-account balance to a tax paid basis - PDFs whose 2001-02 franking year ends on 30 June 2002
- SECTION 210-15 Converting the venture capital sub-account balance to a tax paid basis - PDFs whose 2001-02 franking year ends before 30 June 2002
- Division 214 - Administering the imputation system
- SECTION 214-1 Application
- SECTION 214-5 Entity must give a franking return
- SECTION 214-10 Notice to a specific corporate tax entity
- SECTION 214-15 Effect of a refund on franking returns
- SECTION 214-20 Franking returns for the income year
- SECTION 214-25 Commissioner may make a franking assessment
- SECTION 214-30 Commissioner taken to have made a franking assessment on first return
- SECTION 214-35 Amendments within 3 years of the original assessment
- SECTION 214-40 Amended assessments are treated as franking assessments
- SECTION 214-45 Further return as a result of a refund affecting a franking deficit tax liability
- SECTION 214-50 Later amendments - on request
- SECTION 214-55 Later amendments - failure to make proper disclosure
- SECTION 214-60 Later amendments - fraud or evasion
- SECTION 214-65 Further amendment of an amended particular
- SECTION 214-70 Other later amendments
- SECTION 214-75 Amendment on review etc.
- SECTION 214-80 Notice of amendments
- SECTION 214-85 Validity of assessment
- SECTION 214-90 Objections
- ### (Repealed) SECTION 214-95 Evidence
- SECTION 214-100 Due date for payment of franking tax
- SECTION 214-105 General interest charge
- SECTION 214-110 Refunds of amounts overpaid
- ### (Repealed) SECTION 214-115 Security for payment of tax
- SECTION 214-120 Record keeping
- SECTION 214-125 Power of Commissioner to obtain information
- ### (Repealed) SECTION 214-130 Tax agents
- SECTION 214-135 Interpretation
- Division 219 - Imputation for life insurance companies
- SECTION 219-40 Reversing and replacing (on tax paid basis) certain franking credits that arose before 1 July 2002
- SECTION 219-45 Reversing (on tax paid basis) certain franking debits that arose before 1 July 2002
- Division 220 - Imputation for NZ resident companies and related companies
- SECTION 220-1 Application to things happening on or after 1 April 2003
- SECTION 220-5 Residency requirement for income year including 1 April 2003
- SECTION 220-10 NZ franking company cannot frank before 1 October 2003
- SECTION 220-35 Extended time to make NZ franking choice
- SECTION 220-501 Franking and exempting accounts of new former exempting entities
- PART 3-10 - FINANCIAL TRANSACTIONS
- Division 235 - Particular financial transactions
- Subdivision 235-I - Instalment trusts
- SECTION 235-810 Application of Subdivision 235-I of the Income Tax Assessment Act 1997
- Division 242 - Leases of luxury cars
- SECTION 242-10 Application
- SECTION 242-20 Balancing adjustments
- Division 245 - Forgiveness of commercial debts
- Subdivision 245-A - Application of Division 245 of the Income Tax Assessment Act 1997
- SECTION 245-5 Application and saving
- SECTION 245-10 Pre-28 June 1996 arrangements etc.
- Division 247 - Capital protected borrowings
- Subdivision 247-A - Interim apportionment methodology
- SECTION 247-5 Interim apportionment methodology
- SECTION 247-10 Products listed on the Australian Stock Exchange that have explicit put options
- SECTION 247-15 Other capital protected products
- SECTION 247-20 The indicator method
- SECTION 247-25 The percentage method
- Subdivision 247-B - Other transitional provisions
- SECTION 247-75 Post-July 2007 capital protected borrowings
- SECTION 247-80 Capital protected borrowings in existence on 1 July 2013
- SECTION 247-85 Extensions and other changes
- Division 253 - Financial claims scheme for account-holders with insolvent ADIs
- Subdivision 253-A - Tax treatment of entitlements under financial claims scheme
- SECTION 253-5 Application of section 253-5 of the Income Tax Assessment Act 1997
- SECTION 253-10 Application of sections 253-10 and 253-15 of the Income Tax Assessment Act 1997
- PART 3-25 - PARTICULAR KINDS OF TRUSTS
- Division 275 - Australian managed investment trusts
- Subdivision 275-A - Choice for capital treatment of MIT gains and losses
- SECTION 275-10 Consequences of making choice - Commissioner cannot make certain amendments to previous assessments
- Subdivision 275-L - Modification for non-arm ' s length income
- SECTION 275-605 Trustee taxed on amount of non-arm ' s length income of managed investment trust - not applicable for pre-introduction scheme where amount derived before start of 2018-19 income year
- Division 276 - Attribution managed investment trusts
- Subdivision 276-A - Application
- SECTION 276-5 Application of Division 276
- Subdivision 276-B - Starting income year
- SECTION 276-25 Starting income year
- Subdivision 276-T - Becoming an AMIT: unders and overs
- SECTION 276-700 Application of Subdivision to MIT that becomes AMIT
- SECTION 276-705 Accounting for unders and overs for base years before becoming an AMIT
- Subdivision 276-U - Becoming an AMIT: CGT treatment of payment by trustee of AMIT
- SECTION 276-750 Payment by trustee on or after 1 July 2011 - certain CGT provisions etc. apply for the purposes of working out non-assessable part for first income year of AMIT
- SECTION 276-755 Payment by trustee before 1 July 2011 - limit on amendment of assessment
- PART 3-30 - SUPERANNUATION
- Division 290 - Contributions
- SECTION 290-10 Directed termination payments not deductible etc
- SECTION 290-15 Early balancers - deduction limits from end of 2006-2007 income year to 1 July 2007
- Division 291 - Excess concessional contributions
- Subdivision 291-A - Application of Division 291 of the Income Tax Assessment Act 1997
- SECTION 291-10 Application of Division 291 of the Income Tax Assessment Act 1997
- (Repealed) Subdivision 291-B - Excess concessional contributions
- ### (Repealed) SECTION 291-20 Concessional contributions cap for older Australians - $35,000
- Subdivision 291-C - Modifications for defined benefit interests
- SECTION 291-170 Transitional rules for notional taxed contributions
- Division 292 - Excess non-concessional contributions tax
- ### (Repealed) SECTION 292-20 Concessional contributions cap for older Australians - $35,000
- ### (Repealed) SECTION 292-25 Excess directed termination payments included in concessional contributions
- SECTION 292-80 Application of excess non-concessional contributions tax from 10 May 2006 to 1 July 2007
- SECTION 292-80A Transitional release authority
- SECTION 292-80B Giving a transitional release authority to a superannuation provider
- SECTION 292-80C Superannuation provider given transitional release authority must pay amount
- SECTION 292-85 Non-concessional contributions cap for a financial year
- SECTION 292-90 Non-concessional contributions for a financial year
- Division 293 - Sustaining the superannuation contribution concession
- Subdivision 293-A - Application of Division 293 tax rules
- SECTION 293-10 Application of Division 293 of the Income Tax Assessment Act 1997
- Division 294 - Transfer balance cap
- Subdivision 294-A - Application of Division 294 of the Income Tax Assessment Act 1997
- SECTION 294-10 Application of Division 294 of the Income Tax Assessment Act 1997
- SECTION 294-30 Minor excess transfer balances disregarded if remedied in first 6 months
- SECTION 294-55 Repayment of limited recourse borrowing arrangements
- SECTION 294-80 Structured settlement contributions made before 1 July 2017 - debit increased to match credits
- Subdivision 294-B - CGT relief
- SECTION 294-100 Object
- SECTION 294-105 Interpretation
- SECTION 294-110 Segregated current pension assets
- SECTION 294-115 Superannuation funds using the proportionate method - deemed sale and purchase of CGT asset
- SECTION 294-120 Superannuation funds using the proportionate method - disregard initial capital gain but recognise deferred notional gain
- SECTION 294-125 Pooled superannuation trust using proportionate or alternative exemption method - deemed sale and purchase of CGT asset
- SECTION 294-130 Pooled superannuation trusts using proportionate or alternative exemption method - disregard initial capital gain but recognise deferred notional gain
- Division 295 - Taxation of superannuation entities
- Subdivision 295-B - Modifications of the Income Tax Assessment Act 1997 for 30 June 1988 assets
- SECTION 295-75 Application of Subdivision
- SECTION 295-80 Meaning of 30 June 1988 asset
- SECTION 295-85 Cost base of 30 June 1988 asset
- SECTION 295-90 Market value of stock exchange listed assets
- SECTION 295-95 Adjustment of cost base as at 30 June 1988 - return of capital
- SECTION 295-100 Exercise of rights
- Subdivision 295-C - Notices relating to contributions
- SECTION 295-190 Deductions for personal contributions
- Subdivision 295-F - Exempt income
- SECTION 295-390 Fixed interest complying ADFs - exemption of income attributable to certain 25 May 1988 deposits
- Subdivision 295-G - Deductions
- SECTION 295-465 Complying funds - deductions for insurance premiums
- ### (Repealed) SECTION 295-466 Complying funds - deductions for insurance premiums for disability superannuation benefits
- ### (Repealed) SECTION 295-467 Complying funds - deductions for self-insurance for disability superannuation benefits
- ### (Repealed) SECTION 295-485A Meaning of spouse and child for 2008-2009 income year
- ### (Repealed) SECTION 295-485 Deductions for increased amount of superannuation lump sum death benefit
- Subdivision 295-I - No-TFN contributions income
- SECTION 295-610 No-TFN contributions income
- Division 301 - Superannuation member benefits paid from complying plans etc
- SECTION 301-5 Extended application to certain foreign superannuation funds
- SECTION 301-85 Extended meaning of disability superannuation benefit for superannuation income stream
- SECTION 301-90 Application of Subdivision 301-F of the Income Tax Assessment Act 1997
- SECTION 301-95 Amendment of assessments to give effect to Subdivision 301-F of the Income Tax Assessment Act 1997 etc.
- SECTION 301-100 Amendment of assessments - transitional rule for permanent incapacity benefits, etc.
- SECTION 301-105 Transitional rules for Schedule 9 to the Treasury Laws Amendment (2022 Measures No. 4) Act 2023
- Division 302 - Superannuation death benefits paid from complying plans etc
- SECTION 302-5 Extended application to certain foreign superannuation funds
- SECTION 302-195 Extended meaning of death benefits dependant for superannuation income stream
- SECTION 302-195A Meaning of death benefits dependant for 2008-2009 income year
- Division 303 - Superannuation benefits paid in special circumstances
- SECTION 303-10 Superannuation lump sum member benefit paid to member having a terminal medical condition
- SECTION 303-15 Superannuation lump sum member benefit paid to member on compassionate ground relating to the coronavirus
- Division 304 - Superannuation benefits in breach of legislative requirements etc
- SECTION 304-15 Excess payments from release authorities
- Division 305 - Superannuation benefits paid from non-complying superannuation plans
- Subdivision 305-B - Superannuation benefits from foreign superannuation funds
- SECTION 305-80 Lump sums paid into complying superannuation plans post-FIF abolition
- Division 306 - Roll-overs etc
- SECTION 306-10 Roll-over superannuation benefit - directed termination payment
- Division 307 - Key concepts relating to superannuation benefits
- SECTION 307-125 Treatment of tax free component of existing pension payments etc
- SECTION 307-127 Extension - income stream replacing an earlier one because of an involuntary roll-over
- SECTION 307-230 Total superannuation balance - modification for transfer balance just before 1 July 2017
- SECTION 307-231 Total superannuation balance - limited recourse borrowing arrangements
- SECTION 307-290 Taxed and untaxed elements of death benefit superannuation lump sums
- SECTION 307-345 Low rate component - Effect of rebate under the Income Tax Assessment Act 1936
- PART 3-32 - CO-OPERATIVES AND MUTUAL ENTITIES
- Division 316 - Demutualisation of friendly society health or life insurers
- Subdivision 316-A - Application
- SECTION 316-1 Application of Division 316 of the Income Tax Assessment Act 1997
- PART 3-35 - INSURANCE BUSINESS
- Division 320 - Life insurance companies
- Operative provisions Subdivision 320-A - Preliminary
- SECTION 320-5 Life insurance companies that are friendly societies
- Subdivision 320-C - Deductions and capital losses
- SECTION 320-85 Deduction for increase in value of liabilities under risk components of life insurance policies
- Subdivision 320-D - Taxable income and tax loss of life insurance companies
- SECTION 320-100 Savings - tax losses of previous income years
- Subdivision 320-F - Virtual PST
- SECTION 320-170 Transfer of part of an asset to a virtual PST
- SECTION 320-175 Transfers of assets to virtual PST
- SECTION 320-180 Deferred annuities purchased before 1 July 2007
- Subdivision 320-H - Segregation of assets for the purpose of discharging exempt life insurance policies
- SECTION 320-225 Transfer of part of an asset to segregated exempt assets
- SECTION 320-230 Transfers of assets to segregated exempt assets
- ### (Repealed) SECTION 320-246 Exempt life insurance policy - extended meaning of roll-over superannuation benefit
- Division 322 - Assistance for policyholders with insolvent general insurers
- Subdivision 322-B - Tax treatment of entitlements under financial claims scheme
- SECTION 322-25 Application of section 322-25 of the Income Tax Assessment Act 1997
- SECTION 322-30 Application of section 322-30 of the Income Tax Assessment Act 1997
- PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS
- Division 328 - Small business entities
- SECTION 328-1 Definitions
- SECTION 328-110 Working out whether you are a small business entity for the 2007-08 or 2008-09 income year - turnover for earlier income years
- SECTION 328-111 Access to certain small business concessions for former STS taxpayers that are winding up a business
- SECTION 328-112 Working out whether you are a small business entity for certain small business concessions - entities connected with you
- SECTION 328-115 When you stop using the STS accounting method
- SECTION 328-120 Continuing to use the STS accounting method
- SECTION 328-125 Meaning of STS accounting method
- SECTION 328-175 Choices made in relation to depreciating assets used in primary production business
- SECTION 328-180 Increased access to accelerated depreciation from 12 May 2015 to 30 June 2024
- SECTION 328-181 Full expensing - 2020 budget time to 30 June 2023
- SECTION 328-182 Backing business investment
- SECTION 328-185 Depreciating assets allocated to STS pools
- SECTION 328-195 Opening pool balances for 2007-08 income year
- SECTION 328-200 General small business pool for the 2012-13 income year
- SECTION 328-440 Taxpayers who left the STS on or after 1 July 2005
- SECTION 328-445 Bonus deduction for upskilling employees of small business entities etc.
- SECTION 328-450 Expenditure eligible for the bonus deduction for upskilling employees of small business entities etc.
- SECTION 328-455 Technology investment boost deduction
- SECTION 328-460 What expenditure qualifies for the technology investment boost
- SECTION 328-465 Energy incentive
- SECTION 328-470 What expenditure qualifies for the energy incentive
- Division 355 - Research and Development
- Subdivision 355-D - Registration for activities before 2011-12 income year
- SECTION 355-200 Registration for activities before 2011-12 income year
- Subdivision 355-E - Balancing adjustments for decline in value deductions for assets used in R & D activities
- SECTION 355-320 Balancing adjustment - assets only used for R & D activities
- SECTION 355-325 Balancing adjustment - R & D partnership assets only used for R & D activities
- SECTION 355-340 Balancing adjustment - tax exempt entities that become taxable
- Subdivision 355-F - Integrity rules
- SECTION 355-415 Expenditure reduced to reflect group mark-ups
- Subdivision 355-K - Modified application of the old R & D law
- SECTION 355-550 Prepayments of R & D expenditure extending into the 2011-12 income year
- Subdivision 355-M - Undeducted core technology expenditure
- SECTION 355-600 Scope
- SECTION 355-605 Core technology that is a depreciating asset
- SECTION 355-610 Core technology that is not a depreciating asset
- ### (Repealed) SECTION 355-720 Certain related amounts may be reduced if notional deductions exceeded $100 million
- Division 375 - Australian films
- Subdivision 375-G - Film losses
- SECTION 375-100 Film component of tax loss for 1997-98 or later income year
- SECTION 375-105 Film component of tax loss for 1989-90 to 1996-97 income years
- SECTION 375-110 Film loss for 1989-90 or later income year
- Division 392 - Long-term averaging of primary producers ' tax liability
- SECTION 392-1 Application of Division 392 of the Income Tax Assessment Act 1997
- SECTION 392-25 Transitional provision - election under section 158A of the Income Tax Assessment Act 1936
- Division 393 - Farm management deposits
- Subdivision 393-A - Tax consequences of farm management deposits
- SECTION 393-1 Application of Division 393 of the Income Tax Assessment Act 1997
- SECTION 393-5 Unrecouped FMD deduction
- SECTION 393-10 Unrecouped FMD deduction for deposits made as a result of section 25B of the Loan (Income Equalization Deposits) Act 1976
- SECTION 393-27 Trustee may choose that a beneficiary is a chosen beneficiary of the trust
- SECTION 393-30 Unclaimed moneys
- Subdivision 393-B - Meaning of farm management deposit and owner
- SECTION 393-40 The day the deposit was made for deposits made as a result of section 25B of the Loan (Income Equalization Deposits) Act 1976
- Division 410 - Copyright collecting societies
- SECTION 410-1 Application of section 51-43 of the Income Tax Assessment Act 1997
- Division 415 - Designated infrastructure projects
- Subdivision 415-B - Application of Subdivision 415-B of the Income Tax Assessment Act 1997
- SECTION 415-10 Application of Subdivision 415-B of the Income Tax Assessment Act 1997
- PART 3-50 - CLIMATE CHANGE
- Division 420 - Registered emissions units
- Subdivision 420-A - General application provision
- SECTION 420-1 Application of Division 420 of the Income Tax Assessment Act 1997
- (Repealed) Subdivision 420-B - Units held before the commencement of Division 420 of the Income Tax Assessment Act 1997
- ### (Repealed) SECTION 420-5 Transitional provision - units held before the commencement of Division 420 of the Income Tax Assessment Act 1997
- PART 3-80 - ROLL-OVERS APPLYING TO ASSETS GENERALLY
- Division 615 - Roll-overs for business restructures
- Subdivision 615-A - Modifications for roll-overs between the 2011 and 2012 Budget times
- SECTION 615-5 Roll-overs between the 2011 and 2012 Budget times
- SECTION 615-10 Modifications - when additional consequences can apply
- SECTION 615-15 Modifications - trading stock
- SECTION 615-20 Modifications - revenue assets
- Division 620 - Assets of wound-up corporation passing to corporation with not significantly different ownership
- Subdivision 620-A - Corporations covered by Subdivision 124-I
- SECTION 620-10 Application of Subdivision 620-A of the Income Tax Assessment Act 1997
- PART 3-90 - CONSOLIDATED GROUPS
- Division 700 - Application of Part 3-90 of Income Tax Assessment Act 1997
- SECTION 700-1 Application of Part 3-90 of Income Tax Assessment Act 1997
- Division 701 - Modified application of provisions of Income Tax Assessment Act 1997 for certain consolidated groups formed in 2002-03 and 2003-04 financial years
- Subdivision 701-A - Preliminary
- SECTION 701-1 Transitional group and transitional entity
- SECTION 701-5 Chosen transitional entity
- SECTION 701-7 Working out the cost base or reduced cost base of a pre-CGT asset after certain roll-overs
- SECTION 701-10 Interpretation
- Subdivision 701-B - Modified application of provisions
- SECTION 701-15 Tax cost and trading stock value not set for assets of chosen transitional entities
- SECTION 701-20 Working out allocable cost amount on formation for subsidiary members other than chosen transitional entities
- SECTION 701-25 No operation of value shifting and loss transfer provisions to membership interests in chosen transitional entities
- ### (Repealed) SECTION 701-30 Undistributed, untaxed pre-formation profits of non-chosen transitional entities - adjustment to allocable cost amount and tax cost setting amount reduction for over-depreciated assets
- SECTION 701-32 No adjustment of amount of liabilities required in working out allocable cost amount
- ### (Repealed) SECTION 701-34 CGT event L7 does not happen in respect of certain liabilities
- SECTION 701-35 Act, transaction or event giving rise to CGT event for pre-formation roll-over after 16 May 2002 to be disregarded if cost base etc. would be different
- SECTION 701-40 When entity leaves transitional group, head company may choose, for purposes of transitional group ' s allocable cost amount, to increase terminating values of over-depreciated assets
- SECTION 701-45 When entity leaves transitional group, head company may choose, for purposes of transitional group's allocable cost amount, to use formation time market values, instead of terminating values, for certain pre-CGT assets
- SECTION 701-50 Increased allocable cost amount for leaving entity if it takes privatised asset brought into group by chosen transitional entity
- Division 701A - Modified application of provisions of Income Tax Assessment Act 1997 for entities with continuing majority ownership from 27 June 2002 until joining a consolidated group
- SECTION 701A-1 Continuing majority-owned entity, designated group etc.
- SECTION 701A-5 Modified application of Part 3-90 of Income Tax Assessment Act 1997 to trading stock of continuing majority-owned entity
- SECTION 701A-7 Modified application of Part 3-90 of Income Tax Assessment Act 1997 to registered emissions units of continuing majority-owned entity
- SECTION 701A-10 Modified application of Part 3-90 of Income Tax Assessment Act 1997 to certain internally generated assets of continuing majority-owned entity
- Division 701B - Modified application of provisions of Income Tax Assessment Act 1997 relating to CGT event L1
- SECTION 701B-1 Modified application of CGT Consolidation provisions to allow immediate availability of capital loss for CGT event L1
- Division 701C - Modified application etc. of provisions of Income Tax Assessment Act 1997: transitional foreign-held membership structures
- Subdivision 701C-A - Overview
- SECTION 701C-1 Overview
- Subdivision 701C-B - Membership rules allowing foreign holding
- SECTION 701C-10 Additional membership rules where entities are interposed between the head company and a subsidiary member - case where an interposed entity is a foreign resident and the subsidiary member is a company
- SECTION 701C-15 Additional membership rules where entities are interposed between the head company and a subsidiary member - case where an interposed entity is a foreign resident and the subsidiary member is a trust or partnership
- SECTION 701C-20 Transitional foreign-held subsidiaries and transitional foreign-held indirect subsidiaries
- Subdivision 701C-C - Modifications of tax cost setting rules
- SECTION 701C-25 Application and object of this Subdivision
- SECTION 701C-30 Transitional foreign-held subsidiary to be treated as part of head company
- SECTION 701C-35 Trading stock value not set for assets of transitional foreign-held subsidiaries
- SECTION 701C-40 Cost setting rules for exit cases - modification of core rules
- SECTION 701C-50 Cost setting rules for exit cases - reference to modification of core rule
- Division 701D - Transitional foreign loss makers
- Subdivision 701D-A - Object of this Division
- SECTION 701D-1 Object of this Division
- Subdivision 701D-B - Rules allowing transitional foreign loss makers to remain outside consolidated group
- SECTION 701D-10 Transitional foreign loss maker not member of group if certain conditions satisfied
- SECTION 701D-15 Choice to apply transitional rules to entity
- Division 702 - Modified application of this Act to assets that an entity brings into a consolidated group
- SECTION 702-1 Modified application of section 40-77 of this Act to assets that an entity brings into a consolidated group
- SECTION 702-4 Extended operation of subsection 40-285(3)
- SECTION 702-5 Modified application of subsection 40-285(6) of this Act after entity brings assets into consolidated group
- Division 703 - Consolidated groups and their members
- SECTION 703-30 Debt interests that are not membership interests
- SECTION 703-35 Employee share schemes
- Division 705 - Tax cost setting amount for assets where entities become members of consolidated groups
- Subdivision 705-E - Expenditure relating to exploration, mining or quarrying
- SECTION 705-300 Application and object of this Subdivision
- SECTION 705-305 Rules affecting depreciating assets
- SECTION 705-310 Adjustable value of head company ' s notional assets
- Division 707 - Losses for head companies when entities become members, etc
- Subdivision 707-A - Transfer of losses to head company
- SECTION 707-145 Certain choices to cancel the transfer of a loss may be revoked
- Subdivision 707-C - Amount of transferred losses that can be utilised
- SECTION 707-325 Increasing the available fraction for a bundle of losses by increasing the real loss-maker ' s modified market value
- SECTION 707-326 Events involving only value donor and real loss-maker not covered by rule against inflation of modified market value
- SECTION 707-327 Choosing available fraction to apply to value donor ' s loss
- SECTION 707-328 Income year and conditions for possible transfer under Division 170 of the Income Tax Assessment Act 1997
- SECTION 707-328A Some events involving only group members not covered by rule against inflation of modified market value
- SECTION 707-329 Modified market value at a time before 8 December 2004
- SECTION 707-350 Alternative loss utilisation regime to Subdivision 707-C of the Income Tax Assessment Act 1997
- SECTION 707-355 Ignore certain losses in working out when a choice can be made under this Subdivision
- Subdivision 707-D - Special rules about losses
- SECTION 707-405 Special rules about losses referable to part of income year
- Division 709 - Other rules applying when entities become subsidiary members etc.
- Subdivision 709-D - Deducting bad debts
- SECTION 709-200 Application of Subdivision 709-D of the Income Tax Assessment Act 1997
- Division 712 - Certain rules for where entities cease to be subsidiary members of consolidated groups
- Subdivision 712-E - Expenditure relating to exploration, mining or quarrying
- SECTION 712-305 Reducing adjustable value of head company ' s notional asset
- Division 713 - Rules for particular kinds of entities
- Subdivision 713-L - Transitional relief for certain transactions relating to life insurance companies
- SECTION 713-500 Object of Subdivision
- SECTION 713-505 When this Subdivision applies (first case)
- SECTION 713-510 When this Subdivision applies (second case)
- SECTION 713-515 Entities must choose the relief
- SECTION 713-520 Conditions
- SECTION 713-525 Time of transfer
- SECTION 713-530 What the relief is
- SECTION 713-535 Subsequent consequences
- SECTION 713-540 Requirement to notify happening of new event
- SECTION 713-545 Discount capital gain in certain cases
- Subdivision 713-M - General insurance companies
- SECTION 713-700 Application
- Division 715 - Interactions between the consolidation rules and other areas of the income tax law
- Subdivision 715-F - Interactions with Division 230 (financial arrangements)
- SECTION 715-380 Exit history rule not to affect certain matters related to Division 230 financial arrangements
- Subdivision 715-J - Entry history rule and choices
- SECTION 715-658 Application
- SECTION 715-659 Extension of time for making choice if joining time was before commencement
- Subdivision 715-K - Exit history rule and choices
- SECTION 715-698 Application
- SECTION 715-699 Extension of time for making choice if leaving time was before commencement
- Division 716 - Miscellaneous special rules
- Subdivision 716-G - Software development pools
- SECTION 716-340 Expenditure incurred before 1 July 2001 and allocated to a software pool
- (Repealed) Division 717 - International tax rules
- ### (Repealed) SECTION 717-15 Head company ' s accelerated access to joining entity ' s excess foreign tax credits from earlier years
- ### (Repealed) SECTION 717-20 Head company ' s accelerated access to joining entity ' s excess foreign tax credits from joining year
- ### (Repealed) SECTION 717-25 No double counting of foreign tax
- ### (Repealed) SECTION 717-30 Substituted accounting periods
- Division 719 - MEC rules
- Subdivision 719-A - Modified application of Part 3-90 to MEC groups
- SECTION 719-2 Modified application of Part 3-90 to MEC groups
- Subdivision 719-B - MEC groups and their members
- SECTION 719-5 Debt interests that are not membership interests
- SECTION 719-10 Effect of Division 701C
- SECTION 719-15 Modified effect of subsection 701D-10(2)
- SECTION 719-30 Employee share schemes
- Subdivision 719-C - Cost setting
- SECTION 719-160 Transitional cost setting rules on joining have effect with modifications
- SECTION 719-161 Modified effect of section 701-1
- SECTION 719-163 Modified effect of section 701-35
- SECTION 719-165 Modified effect of paragraph 701-45(1)(b)
- Subdivision 719-F - Losses
- SECTION 719-305 Available fraction for bundle of losses not affected by concessional rules
- SECTION 719-310 Certain choices may be revoked
- Subdivision 719-I - Bad debts
- SECTION 719-450 Application of Subdivision 719-I of the Income Tax Assessment Act 1997
- Division 721 - Liability for payment of tax where head company fails to pay on time
- Subdivision 721-A - Application of Division
- SECTION 721-25 References in tax sharing agreements to former table item 25
- PART 3-95 - VALUE SHIFTING
- Division 723 - Direct value shifting by creating right over non-depreciating asset
- SECTION 723-1 Application of Division 723
- Division 725 - Direct value shifting affecting interests in companies and trusts
- SECTION 725-1 Application of Division 725
- Division 727 - Indirect value shifting affecting interests in companies and trusts, and arising from non-arm's length dealings
- SECTION 727-1 Application of Division 727
- SECTION 727-230 Transitional exclusion for certain indirect value shifts relating mainly to services
- SECTION 727-470 Affected interests do not include equity or loan interests owned by entity that is eligible to be an STS taxpayer
- CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX
- PART 4-5 - GENERAL
- (Repealed) Division 770 - Foreign income tax offsets and foreign losses
- (Repealed) Subdivision 770-A - Transitional foreign losses (common rules)
- ### (Repealed) SECTION 770-1 Converting a past foreign loss into a tax loss
- ### (Repealed) SECTION 770-5 Convertible foreign loss
- ### (Repealed) SECTION 770-10 Reducing an unutilised overall foreign loss amount
- ### (Repealed) SECTION 770-15 No special rules if convertible foreign losses total less than or equal to $10,000 or choice made
- ### (Repealed) SECTION 770-20 Starting total for loss parcel
- ### (Repealed) SECTION 770-25 Tax loss has foreign loss component
- ### (Repealed) SECTION 770-30 Deduction limit for foreign loss component
- ### (Repealed) SECTION 770-35 Offset limit to take account of deducted foreign loss component
- (Repealed) Subdivision 770-B - Transitional foreign losses (special rules for consolidated groups)
- ### (Repealed) SECTION 770-80 Transferred losses taken not to be refreshed for purposes of converting overall foreign loss
- ### (Repealed) SECTION 770-85 Deduction limit not to restrict transfer of losses
- ### (Repealed) SECTION 770-90 Transfer of losses not restricted where part of trial year occurs before commencement year
- ### (Repealed) SECTION 770-95 Foreign loss component and starting total retained after transfer to head company
- ### (Repealed) SECTION 770-100 Limit where foreign loss component utilised by joining entity
- ### (Repealed) SECTION 770-105 Modified operation of Subdivision 707-C of the 1997 Act for foreign loss component
- ### (Repealed) SECTION 770-110 Application of Subdivision to MEC groups
- (Repealed) Subdivision 770-C - Transitional foreign losses (special rules for CFCs)
- ### (Repealed) SECTION 770-160 Converting a past CFC loss
- ### (Repealed) SECTION 770-165 Convertible CFC loss
- ### (Repealed) SECTION 770-170 Reducing an unutilised CFC loss amount
- (Repealed) Subdivision 770-D - Transitional foreign income tax offsets (common rules)
- ### (Repealed) SECTION 770-220 Converting excess foreign tax credits into pre-commencement excess foreign income tax
- ### (Repealed) SECTION 770-225 Pre-commencement excess foreign income tax generated for a company by excess foreign tax credits relating to other income
- ### (Repealed) SECTION 770-230 Increase in the foreign income tax offset
- (Repealed) Subdivision 770-E - Transitional foreign income tax offsets (special rules for consolidated groups)
- ### (Repealed) SECTION 770-285 Objects of this Subdivision
- ### (Repealed) SECTION 770-290 Transferring subsidiary member's pre-commencement excess foreign income tax to head company
- ### (Repealed) SECTION 770-295 Where entity not subsidiary member for whole of income year
- ### (Repealed) SECTION 770-300 Pre-commencement excess foreign income tax lost on joining consolidated group
- ### (Repealed) SECTION 770-305 Exit history rule does not treat leaving entity as having pre-commencement excess foreign income tax
- ### (Repealed) SECTION 770-310 Application of Subdivision to MEC groups
- Division 815 - Cross-border transfer pricing
- Subdivision 815-A - Cross-border transfer pricing
- SECTION 815-1 Application of Subdivision 815-A of the Income Tax Assessment Act 1997
- SECTION 815-5 Cross-border transfer pricing guidance
- SECTION 815-10 Scheme penalty applies in pre-commencement period as if only the old law applied
- SECTION 815-15 Application of Subdivisions 815-B, 815-C and 815-D of the Income Tax Assessment Act 1997
- Division 820 - Application of the thin capitalisation rules
- SECTION 820-10 Application of Division 820 of the Income Tax Assessment Act 1997
- SECTION 820-12 Application of Division 974 of the Income Tax Assessment Act 1997 for the purposes of Division 820 of that Act
- SECTION 820-45 Transitional provision - accounting standards and prudential standards
- Division 830 - Application of the foreign hybrid rules
- SECTION 830-1 Standard application
- SECTION 830-15 Modified version of income tax law to apply for certain past income years
- SECTION 830-20 Modifications of income tax law
- Division 832 - Hybrid mismatch rules
- Subdivision 832-A - Application of Division 832 of the Income Tax Assessment Act 1997
- SECTION 832-10 Application of Division 832 of the Income Tax Assessment Act 1997 (other than imported hybrid mismatch rule)
- SECTION 832-15 Application of imported hybrid mismatch rule
- Division 840 - Withholding taxes
- Subdivision 840-M - Managed investment trust amounts
- SECTION 840-805 Managed investment trust amounts
- SECTION 840-810 Payment of tax under section 840-805
- Subdivision 840-S - Labour mobility program withholding tax
- SECTION 840-905 Application of Subdivision 840-S of the Income Tax Assessment Act 1997
- Division 842 - Exempt Australian source income and gains of foreign residents
- Subdivision 842-I - Investment manager regime
- SECTION 842-207 Application of replacement version of Subdivision 842-I
- SECTION 842-208 Modified meaning of IMR foreign fund for the purposes of earlier income years
- SECTION 842-209 Residence of corporate limited partnerships
- SECTION 842-210 Treatment of IMR foreign fund that is a corporate tax entity
- SECTION 842-215 Treatment of foreign resident beneficiary that is not a trust or partnership
- SECTION 842-220 Treatment of foreign resident partner that is not a trust or partnership
- SECTION 842-225 Treatment of trustee of an IMR foreign fund
- SECTION 842-230 Pre-2012 IMR deduction
- SECTION 842-235 Pre-2012 IMR capital loss
- SECTION 842-240 Pre-2012 non-IMR net income , pre-2012 non-IMR Division 6E net income and pre-2012 non-IMR net capital gain
- SECTION 842-245 Pre-2012 non-IMR partnership net income and pre-2012 non-IMR partnership loss
- Division 880 - Sovereign entities and activities
- SECTION 880-1 Application of Division 880 of the Income Tax Assessment Act 1997
- SECTION 880-5 Certain income of sovereign entity in respect of a scheme is non-assessable non-exempt income if covered by a private ruling
- SECTION 880-10 Certain amounts of sovereign entity in respect of a scheme are not deductible if covered by a private ruling
- SECTION 880-15 Sovereign entity ' s capital gain from membership interest etc. - gain disregarded
- SECTION 880-20 Sovereign entity ' s capital loss from membership interest etc. - loss disregarded
- SECTION 880-25 Asset of sovereign entity - deemed sale and purchase
- CHAPTER 5 - ADMINISTRATION
- PART 5-35 - MISCELLANEOUS
- Division 909 - Regulations
- SECTION 909-1 Regulations
- CHAPTER 6 - THE DICTIONARY
- PART 6-1 - CONCEPTS AND TOPICS
- Division 960 - General
- Subdivision 960-B - Utilisation of tax attributes
- SECTION 960-20 Utilisation - corporate loss carry back
- Subdivision 960-E - Entities
- SECTION 960-100 Effect of this Subdivision
- SECTION 960-105 Entities, and members of entities, benefiting from the application of this Subdivision
- SECTION 960-110 No taxation consequences to result from changes to managed investment scheme
- SECTION 960-115 Certain entities treated as agents
- Subdivision 960-M - Indexation
- SECTION 960-262 Application of Subdivision 960-M of the Income Tax Assessment Act 1997
- SECTION 960-275 Indexation factor
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