Income Tax Assessment Act 1997
View history note
Hide history noteDespite a subsection listed in column 1, the Commissioner may, under a subsection listed in column 2, disallow some or all of an *excluded loss, deduction, or *capital loss, of a company (as the case requires) if: (a) the company is or becomes:
(i) a Chapter 5 body corporate within the meaning of the Corporations Act 2001 ; or
(b) the company is insolvent (within the meaning of section 9 of the Corporations Act 2001 ) when the company becomes an entity mentioned in subparagraph (a)(i) or (ii) .
(ii) an entity with a similar status under a *foreign law to a Chapter 5 body corporate; and
| Commissioner may disallow excluded losses etc. for insolvent companies | ||
| Item | Column 1 | Column 2 |
| Despite this subsection... | the Commissioner may disallow under this subsection: | |
| 1 | Subsection 175-10(2) | Subsection 175-10(1) |
| 2 | Subsection 175-15(2) | Subsection 175-15(1) |
| 3 | Subsection 175-20(2) | Subsection 175-20(1) |
| 4 | Subsection 175-25(2) | Subsection 175-25(1) |
| 5 | Subsection 175-30(4) | Subsection 175-30(1) or (2) |
| 6 | Subsection 175-45(2) | Subsection 175-45(1) |
| 7 | Subsection 175-50(2) | Subsection 175-50(1) |
| 8 | Subsection 175-60(2) | Subsection 175-60(1) |
| 9 | Subsection 175-65(2) | Subsection 175-65(1) |
| 10 | Subsection 175-70(4) | Subsection 175-70(1) or (2) |
| 11 | Subsection 175-85(2) | Subsection 175-85(1) |
| 11 | Subsection 175-90(2) | Subsection 175-90(1) |
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