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

Schedule 1   Access to losses

Part 1   Companies

Income Tax Assessment Act 1997

12   After subsection 707-140(1)

Insert:

(1A) However, subsection (1) does not affect the operation of paragraph 165-211(1)(a) or (c).

Note: This subsection ensures that the head company can only apply the version of the business continuity test in section 165-211 if the loss of the joining entity was incurred on or after 1 July 2015.