Income Tax Assessment Act 1997
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Hide history noteSECTION 705-100 Losses accruing to joined group before joining time - step 5 in working out allocable cost amount 705-100(1)
For the purposes of step 5 in the table in section 705-60 , the step 5 amount is the sum of all losses of any * sort of the joining entity that: (a) had not been * utilised by the joining entity for the income year in which the joining time occurred or any earlier income year; and (b) accrued to the joined group before the joining time (see subsection 705-90(8) ).
705-100(2)
However, a loss is not to be taken into account under subsection (1) to the extent that it reduced the undistributed profits comprising the step 3 amount in the table in section 705-60 .
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