Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 415 - Designated infrastructure projects  

Subdivision 415-B - Tax losses and bad debts  

Uplift of tax losses

SECTION 415-20   Designated infrastructure project entity  

Designated infrastructure project entity

415-20(1)    
An entity is a designated infrastructure project entity at a time (the relevant time ) if:

(a) at the relevant time, the entity is a * fixed trust or a company; and

(b) at or after the relevant time, the entity carries on a single * designated infrastructure project; and

(c) the entity does not, at or before the relevant time, carry on any other designated infrastructure project; and

(d) the only activities in which the entity engages at the relevant time, or engaged before the relevant time, are or were for the purposes of the entity carrying on the single designated infrastructure project.

415-20(2)    
For the purposes of this section:

(a) an * enterprise that becomes a * designated infrastructure project at a time is treated as having been a designated infrastructure project at all earlier times; and

(b) if the entity carries on (whether or not at the same time) one or more parts, but not the whole, of a single designated infrastructure project - the parts are treated as being a single designated infrastructure project; and

(c) in any case - the following are treated as being a single designated infrastructure project:

(i) a single designated infrastructure project (the listed infrastructure project ) that is included on an Infrastructure Priority List;

(ii) any designated infrastructure projects that the entity carries on (whether or not at the same time) and that are part of the listed infrastructure project; and

Note:

For Infrastructure Priority Lists, see paragraph 5(b) of the Infrastructure Australia Act 2008 .

(d) in any case - any designated infrastructure projects that the entity carries on (whether or not at the same time) and that are part of a single infrastructure project that:

(i) is included on an Infrastructure Priority List; and

(ii) is not a designated infrastructure project;

are treated as being a single designated infrastructure project.

Partnerships

415-20(3)    
Subsection (4) applies to an entity if:

(a) the entity is a * fixed trust or a company; and

(b) the person that is the trustee of the trust, or the person that is the company, is a partner in a partnership.

415-20(4)    
For the purposes of subsections (1) and (2), the entity:

(a) is treated as carrying on any * designated infrastructure project carried on by the partnership; and

(b) is treated as engaging in any activity engaged in by the partnership; and

(c) if the partnership engages in an activity for the purpose of the partnership carrying on a designated infrastructure project - is treated as engaging in that activity for the purpose of the entity carrying on that designated infrastructure project.

Consolidated groups

415-20(5)    
For the purposes of working out whether the * head company of a * consolidated group was a * designated infrastructure project entity at a time (whether before or after the group consolidates), section 701-5 (Entry history rule) is treated as not applying to the head company in relation to an entity that was not a * member of the consolidated group at that time.

415-20(6)    
For the purposes of working out whether an entity is a * designated infrastructure project entity at a time after the entity ceases to be a * subsidiary member of a * consolidated group, section 701-40 (Exit history rule) is treated as not applying to the entity in relation to the group.