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

35   Subsection 165-45(4) (notes)

Repeal the notes, substitute:

Note 1: For the same business test, see Subdivision 165-E.

Note 2: See section 165-225 for a special alternative to this section.

Note 3: Companies whose total income for the income year is more than $100 million cannot satisfy the same business test for the same business test period: see section 165-212A.