Tax Laws Amendment (2013 Measures No. 2) Act 2013 (124 of 2013)

Schedule 2   Incentives for designated infrastructure projects

Part 1   Main amendments

Income Tax Assessment Act 1997

6   After subsection 719-265(3)

Insert:

Transfer of tax loss from designated infrastructure project entity

(3A) If:

(a) the focal company made the loss because the loss was transferred under Subdivision 707-A to the focal company as the *head company of a *MEC group; and

(b) subsection 707-120(5) (about designated infrastructure project entities joining consolidated groups) applies to the transfer;

the test company for the focal company is the company that was the *top company for the MEC group at the time of a transfer.