Income Tax Assessment Act 1936
SCHEDULE 2F
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TRUST LOSSES AND OTHER DEDUCTIONS
Division 267
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Income tax consequences for non-fixed trusts of change in ownership or control
Subdivision 267-B
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Deducting tax losses, and certain amounts in respect of debts, from earlier years
SECTION 267-15
WHAT THIS SUBDIVISION IS ABOUT
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a tax loss from a loss year; or
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certain amounts in respect of debts incurred in earlier income years;
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if applicable, it meets an ownership test based on income and capital distributions; and
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it did not fail that test in a previous year; and
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if applicable, it meets an ownership test based on fixed entitlements to income and capital; and
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its control has stayed the same.
View history note
Hide history noteA non-fixed trust cannot deduct:
unless:
Note:
The exceptions mentioned in this section apply differently in relation to designated infrastructure project entities: see sections 415-25 and 415-30 of the Income Tax Assessment Act 1997 .
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