Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-90
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CONSOLIDATED GROUPS
Division 707
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Losses for head companies when entities become members etc.
Subdivision 707-C
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Amount of transferred losses that can be utilised
SECTION 707-300
What this Subdivision is about
View history note
Hide history noteLosses transferred to the head company of a consolidated group under Subdivision
707-A
can be utilised for an income year only against a fraction of the income or gains remaining after the company has utilised other losses and deductions.
Note:
This Subdivision does not apply if the joining entity is a designated infrastructure project entity just before the transfer and the head company is a designated infrastructure project entity just after the transfer: see section 415-45 .
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