Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 707 - Losses for head companies when entities become members etc.  

Subdivision 707-A - Transfer of losses to head company  

Objects

SECTION 707-110  

707-110   Objects of this Subdivision  


The main objects of this Subdivision are:


(a) to provide for the transfer of a loss from an entity (the joining entity ) becoming a * member of a * consolidated group to the * head company of the group (so the head company may be able to * utilise it), if the joining entity could have utilised the loss if it had not become a member of the group; and


(b) to prevent the utilisation by any entity of a loss made by the joining entity, if the joining entity could not have utilised the loss if it had not become a member of the group.

707-110(2)    
(Repealed by No 88 of 2013)



 

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