Treasury Laws Amendment (2017 Enterprise Incentives No. 1) Act 2019 (7 of 2019)

Schedule 1   Access to losses

Part 3   Consequential amendments

Income Tax Assessment Act 1997

37   Section 165-5

Omit:

(b) it satisfies the same business test by carrying on the same business, entering into no new kinds of transactions and conducting no new kinds of business.

substitute:

(b) it satisfies the business continuity test by carrying on the same business (including entering into no new kinds of transactions and conducting no new kinds of business), or by carrying on a similar business (on or after 1 July 2015).