Taxation Laws Amendment Act (No. 1) 2004 (101 of 2004)
Schedule 10 Foreign hybrids
Part 2 Amendment of the Income Tax Assessment Act 1997
8 Section 36-25 (after the table headed 'Tax losses of VCLPs, AFOFs and VCMPs')
Insert:
Tax losses of entities that become foreign hybrids
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Item |
For the special rules about this situation... |
See: |
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1. |
An entity that has a tax loss becomes a *foreign hybrid: it cannot deduct the loss while it is a foreign hybrid. |
Section 830-115 |