Minerals Resource Rent Tax Repeal and Other Measures Act 2014 (96 of 2014)
Schedule 2 Loss carry back
Part 2 Consequential amendments
Income Tax Assessment Act 1997
18 Section 36-25 (table dealing with tax losses of pooled development funds (PDFs), item 1)
Repeal the item, substitute:
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1. |
A company is a pooled development fund (PDF) at the end of an income year for which it has a tax loss: it can only deduct the loss while it is a PDF. |
Section 195-5 |