Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 (147 of 2005)

Schedule 1   Loss recoupment rules for companies etc.

Income Tax Assessment Act 1997

108   At the end of subsection 707-120(3)

Add:

Note: Companies whose total income for an income year is more than $100 million cannot satisfy the same business test throughout the trial year (even if the company carries on the same business): see section 716-805.