Income Tax Assessment Act 1997
View history note
Hide history noteThis Subdivision sets out cases where the Commissioner may disallow some or all of a deduction for a debt (or part of a debt) that is owed to a company and is written off as bad in the income year.
175-80(2)
However, the Commissioner cannot disallow any of the deduction if the company:
(a) fails to meet a condition in section 165-123 (about the company maintaining the same owners) in respect of the *first continuity period or the *second continuity period; but
(b) meets the condition in section 165-126 by satisfying the *business continuity test under section 165-210 .
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