Legal database - View: Income Tax (Transitional Provisions) Act 1997

Income Tax (Transitional Provisions) Act 1997
CHAPTER 1 - INTRODUCTION AND CORE PROVISIONS
PART 1-1 - PRELIMINARY
Division 1 - Preliminary
SECTION 1-1 Short title
SECTION 1-5 Commencement
SECTION 1-7 Administration of this Act
SECTION 1-10 Definitions and rules for interpreting this Act
PART 1-3 - CORE PROVISIONS
Division 4 - How to work out the income tax payable on your taxable income
SECTION 4-1 Application of the Income Tax Assessment Act 1997
### (Repealed) SECTION 4-10 Temporary flood and cyclone reconstruction levy
SECTION 4-11 Temporary budget repair levy
Division 5 - How to work out when to pay your income tax
Subdivision 5-A - How to work out when to pay your income tax
SECTION 5-5 Application of Division 5 of the Income Tax Assessment Act 1997
SECTION 5-7 References in tax sharing agreements to former section 204
SECTION 5-10 General interest charge liabilities under former subsection 204(3)
SECTION 5-15 Application of section 5-15 of the Income Tax Assessment Act 1997
Division 6 - Assessable income and exempt income
SECTION 6-2 Effect of this Division
SECTION 6-3 Assessable income for income years before 1997-98
SECTION 6-20 Exempt income for income years before 1997-98
Division 8 - Deductions
SECTION 8-2 Effect of this Division
SECTION 8-3 Deductions for income years before 1997-98
SECTION 8-10 No double deductions for income year before 1997-98 and income year after 1996-97
CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION
PART 2-1 - ASSESSABLE INCOME
Division 15 - Some items of assessable income
SECTION 15-1 General application provision
SECTION 15-10 Application of section 15-10 of the Income Tax Assessment Act 1997 to bounties and subsidies
SECTION 15-15 Application of section 15-15 of the Income Tax Assessment Act 1997 to profit-making undertaking or plan
SECTION 15-20 Application of section 15-20 of the Income Tax Assessment Act 1997 to royalties
SECTION 15-30 Application of section 15-30 of the Income Tax Assessment Act 1997 to insurance or indemnity payments
SECTION 15-35 Application of section 15-35 of the Income Tax Assessment Act 1997 to interest on overpayments and early payments of tax
Division 20 - Items included to reverse the effect of past deductions
Subdivision 20-A - Insurance, indemnity or recoupment for deductible expenses
SECTION 20-1 Application of Subdivision 20-A of the Income Tax Assessment Act 1997
Subdivision 20-B - Disposal of a car for which lease payments have been deducted
SECTION 20-100 Application of Subdivision 20-B of the Income Tax Assessment Act 1997
SECTION 20-105 The cost of a car acquired in the 1996-97 income year or an earlier income year
SECTION 20-110 The termination value of a car disposed of in the 1996-97 income year or an earlier income year
SECTION 20-115 Reducing the assessable amount for the disposal of a car in the 1997-98 income year or later if there has been an earlier disposal of it
(Repealed) Division 22 - Amounts you must repay are not assessable income
### (Repealed) SECTION 22-5 Application of Division 22 of the Income Tax Assessment Act 1997
PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS
Division 25 - Some amounts you can deduct
SECTION 25-1 Application of Division 25 of the Income Tax Assessment Act 1997
SECTION 25-40 Application of section 25-40 of the Income Tax Assessment Act 1997
SECTION 25-45 Application of section 25-45 of the Income Tax Assessment Act 1997
SECTION 25-50 Application of section 25-90 of the Income Tax Assessment Act 1997
SECTION 25-65 Local government election expenses
Division 26 - Some amounts you cannot deduct, or cannot deduct in full
SECTION 26-1 Application of Division 26 of the Income Tax Assessment Act 1997
SECTION 26-30 Application of section 26-30 of the Income Tax Assessment Act 1997
Division 30 - Gifts or contributions
SECTION 30-1 Application of Division 30 of the Income Tax Assessment Act 1997
SECTION 30-5 Keeping in force old declarations and instruments
### (Repealed) SECTION 30-10 Applications for approval of testamentary gifts not yet decided
### (Repealed) SECTION 30-15 Keeping in force the guidelines for deciding testamentary gifts
### (Repealed) SECTION 30-20 Keeping in force certificates approving testamentary gifts
SECTION 30-25 Keeping in force the old gifts registers
SECTION 30-102 Fund, authorities and institutions taken to be endorsed
Division 32 - Entertainment expenses
SECTION 32-1 Application of Division 32 of the Income Tax Assessment Act 1997
Division 34 - Non-compulsory uniforms
SECTION 34-1 Application of Division 34 of the Income Tax Assessment Act 1997
SECTION 34-5 Things done under former section 51AL of the Income Tax Assessment Act 1936
Division 35 - Deferral of losses from non-commercial business activities
SECTION 35-10 Deductions for certain new business investment
SECTION 35-20 Application of Commisioner's decisions
Division 36 - Tax losses of earlier income years
SECTION 36-100 Tax losses for the 1997-98 and later income years
SECTION 36-105 Tax losses for 1989-90 to 1996-97 income years
SECTION 36-110 Tax losses for 1957-58 to 1988-89 income years
PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE
Division 40 - Capital allowances
Subdivision 40-B - Core provisions
SECTION 40-10 Plant
SECTION 40-12 Plant acquired after 30 June 2001
SECTION 40-13 Accelerated depreciation for split or merged plant
SECTION 40-15 Recalculating effective life
SECTION 40-20 IRUs
SECTION 40-25 Software
SECTION 40-30 Spectrum licences
SECTION 40-33 Datacasting transmitter licences
SECTION 40-35 Mining unrecouped expenditure
SECTION 40-37 Post-30 June 2001 mining expenditure
SECTION 40-38 Mining cash bidding payments
SECTION 40-40 Transport expenditure
SECTION 40-43 Post-30 June 2001 transport expenditure
SECTION 40-44 No additional decline in certain cases
SECTION 40-45 Intellectual property
SECTION 40-47 IRUs
SECTION 40-50 Forestry roads and timber mill buildings
SECTION 40-55 Environmental impact assessment
SECTION 40-60 Pooling under Subdivision 42-L of the former Act
SECTION 40-65 Substituted accounting periods
SECTION 40-67 Methods for working out decline in value
SECTION 40-70 References to amounts deducted and reductions in deductions
SECTION 40-72 New diminishing value method not to apply in some cases
SECTION 40-75 Mining expenditure incurred after 1 July 2001 on an asset
SECTION 40-77 Mining, quarrying or prospecting rights or information held before 1 July 2001
SECTION 40-80 Other expenditure incurred after 1 July 2001 on a depreciating asset
### (Repealed) SECTION 40-95 Accelerated depreciation for split or merged plant
SECTION 40-100 Commissioner's determination of effective life
SECTION 40-105 Calculations of effective life
Subdivision 40-BA - Backing business investment
SECTION 40-120 Backing business investment - accelerated decline in value for businesses with turnover less than $500 million
SECTION 40-125 Backing business investment - when an asset of yours qualifies
SECTION 40-130 Method for working out accelerated decline in value
SECTION 40-135 Division 40 of the Income Tax Assessment Act 1997 applies to later years
SECTION 40-137 Choice to not apply this Subdivision to an asset
Subdivision 40-BB - Temporary full expensing of depreciating assets
SECTION 40-140 Definitions
SECTION 40-145 Interaction with other provisions
SECTION 40-150 When an asset of yours qualifies for full expensing
SECTION 40-155 Businesses with turnover under $5 billion
SECTION 40-157 Corporate tax entities with income under $5 billion
SECTION 40-160 Full expensing of first and second element of cost for post-2020 budget assets
SECTION 40-165 Exclusions - entities covered by section 40-155 or 40-157
SECTION 40-167 Exclusions - entities covered by section 40-157
SECTION 40-170 Full expensing of eligible second element of cost
SECTION 40-175 When is an amount included in the eligible second element
SECTION 40-180 Division 40 of the Income Tax Assessment Act 1997 applies to later years
SECTION 40-185 Balancing adjustment for assets not used or located in Australia
SECTION 40-190 Choice to not apply this Subdivision to an asset for an income year
Subdivision 40-C - Cost
SECTION 40-230 Car limit
Subdivision 40-D - Balancing adjustments
SECTION 40-285 Balancing adjustments
SECTION 40-287 Disposal of pre-1 July 2001 mining depreciating asset to associate
SECTION 40-288 Disposal of pre-1 July 2001 mining non-depreciating asset to associate
SECTION 40-289 Surrendered firearms
SECTION 40-290 Reduction of deductions under former Act etc.
SECTION 40-292 Balancing adjustment - assets used for both general tax purposes and R & D activities
SECTION 40-293 Balancing adjustment - partnership assets used for both general tax purposes and R & D activities
SECTION 40-295 Later year relief
SECTION 40-340 Roll-overs
SECTION 40-345 Balancing adjustments for depreciating assets that retain CGT indexation
SECTION 40-365 Involuntary disposals
Subdivision 40-E - Low-value and software development pools
SECTION 40-420 Low-value pools under Division 42 continue
### (Repealed) SECTION 40-425 Allocating depreciating assets to low-value pools
SECTION 40-430 Allocating assets to low-value pools
SECTION 40-450 Software development pools
Subdivision 40-F - Primary production depreciating assets
SECTION 40-515 Water facilities, grapevines and horticultural plants
SECTION 40-520 Special rule for water facilities you no longer hold
SECTION 40-525 Amounts deducted for water facilities
Subdivision 40-G - Capital expenditure of primary producers and other landholders
SECTION 40-645 Electricity supply and telephone lines
SECTION 40-650 Special rule for land that you no longer hold
SECTION 40-670 Farm consultants
Subdivision 40-I - Capital expenditure that is deductible over time
SECTION 40-825 Genuine prospectors
SECTION 40-832 New method not to apply in some cases
Subdivision 40-J - Ships depreciated under section 57AM of the Income Tax Assessment Act 1936
SECTION 40-840 Ships depreciated under section 57AM of the Income Tax Assessment Act 1936
Division 43 - Deductions for capital works
SECTION 43-100 Application of Division 43 to quasi-ownership rights over land
SECTION 43-105 Application of subsections 43-50(1) and (2) to hotel buildings and apartment buildings
SECTION 43-110 Application of subsection 43-75(3)
Division 45 - Disposal of leases and leased plant
SECTION 45-1 Application of Division 45 of the Income Tax Assessment Act 1997
SECTION 45-3 Application of Division 45 to disposals between February 1999 and September 1999
SECTION 45-40 Application of Division to plant formerly owned by exempt entities
PART 2-15 - NON-ASSESSABLE INCOME
Division 50 - Exempt entities
SECTION 50-1 Application of Division 50 of the Income Tax Assessment Act 1997
SECTION 50-50 Charities established prior to 1 July 1997
Division 51 - Exempt amounts
SECTION 51-1 Application of Division 51 of the Income Tax Assessment Act 1997
Division 52 - Certain pensions, benefits and allowances are exempt from income tax
SECTION 52-1 Application of Division 52 of the Income Tax Assessment Act 1997
### (Repealed) SECTION 52-5 Application of Subdivision 52-D of the Income Tax Assessment Act 1997
Division 53 - Various exempt payments
SECTION 53-1 Application of Division 53 of the Income Tax Assessment Act 1997
Division 54 - Exemption for certain payments made under structured settlements and structured orders
SECTION 54-1 Application of Division 54 of the Income Tax Assessment Act 1997
Division 55 - Payments that are not exempt from income tax
SECTION 55-1 Application of Division 55 of the Income Tax Assessment Act 1997
Division 59 - Particular amounts of non-assessable non-exempt income
Subdivision 59-N - Native title benefits
SECTION 59-50 Indigenous holding entities
PART 2-20 - TAX OFFSETS
Division 61 - Generally applicable tax offsets
Subdivision 61-L - Tax offset for Medicare levy surcharge (lump sum payments in arrears)
SECTION 61-575 Application of Subdivision 61-L of the Income Tax Assessment Act 1997
(Repealed) Division 67 - Refundable tax offset rules
(Repealed) Subdivision 67-L - Notices of totals of tax offset refunds for 2012-13 income year
### (Repealed) SECTION 67-100 Notices of total of tax offset refunds
### (Repealed) SECTION 67-105 Deemed notices
### (Repealed) SECTION 67-110 Requests for notices
### (Repealed) SECTION 67-115 Effect of notices
### (Repealed) SECTION 67-120 Amendment of notices
### (Repealed) SECTION 67-125 Validity of notices
### (Repealed) SECTION 67-130 Evidence
### (Repealed) SECTION 67-135 Review of notices
PART 2-25 - TRADING STOCK
Division 70 - Trading stock
SECTION 70-1 Application of Division 70 of the Income Tax Assessment Act 1997
SECTION 70-10 Accounting for your disposal of items that stop being trading stock because of the change of definition
SECTION 70-20 Application of section 70-20 of the Income Tax Assessment Act 1997 to trading stock bought on or after 1 July 1997
### (Repealed) SECTION 70-35 Transitional provision for partnerships with live stock
### (Repealed) SECTION 70-40 Value of trading stock at the start of the 1997-98 income year
### (Repealed) SECTION 70-41 Value of trading stock at the start of the 2001-2002 income year - oysters acquired by using the traditional stick farming method
SECTION 70-55 Cost of live stock acquired by natural increase
SECTION 70-70 Valuing interests in FIFs on hand at the start of 1991-92
SECTION 70-90 Application of sections 70-90 and 70-95 of the Income Tax Assessment Act 1997 to disposals of trading stock outside the ordinary course of business
SECTION 70-100 Application of section 70-100 of the Income Tax Assessment Act 1997 to disposals of trading stock outside ordinary course of business
SECTION 70-105 Application of section 70-105 of the Income Tax Assessment Act 1997 to deaths on or after 1 July 1997
SECTION 70-115 Application of section 70-115 of the Income Tax Assessment Act 1997 to insurance and indemnity payments in 1997-98 and later income years
PART 2-40 - RULES AFFECTING EMPLOYEES AND OTHER TAXPAYERS RECEIVING PAYG WITHHOLDING PAYMENTS
Division 82 - Pre-10 May 2006 entitlements to life benefit termination payments
Subdivision 82-A - Application of Division
SECTION 82-10 Pre-10 May 2006 entitlements - transitional termination payments
Subdivision 82-B - Transitional termination payments: general
SECTION 82-10A Recipient has reached preservation age
SECTION 82-10B Lower cap amount
SECTION 82-10C Recipient under preservation age
SECTION 82-10D Upper cap amount
Subdivision 82-C - Pre-payment statements
SECTION 82-10E Transitional termination payments - pre-payment statements
Subdivision 82-D - Directed termination payments made to superannuation and other entities
SECTION 82-10F Directed termination payments
SECTION 82-10G Directed termination payments not assessable income and not exempt income
Subdivision 82-E - Pre-10 May 2006 entitlements and employment termination payments made after 1 July 2012
SECTION 82-10H Transitional termination payments may reduce ETP cap amount for payments under section 82-10 after 1 July 2012
Division 83A - Employee share schemes
Subdivision 83A-A - Application of Division 83A of the Income Tax Assessment Act 1997
SECTION 83A-5 Application of Division 83A of the Income Tax Assessment Act 1997
Subdivision 83A-B - Application of former provisions of the Income Tax Assessment Act 1936
SECTION 83A-10 Savings - continued operation of former provisions
SECTION 83A-15 Indeterminate rights
CHAPTER 3 - SPECIALIST LIABILITY RULES
PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS
Division 102 - Application of Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997
SECTION 102-1 Application of Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997
SECTION 102-5 Working out capital gains and capital losses
SECTION 102-15 Applying net capital losses
SECTION 102-20 Net capital gains, capital gains and capital losses for income years before 1998-99
SECTION 102-25 Transitional capital gains tax provisions for certain Cocos (Keeling) Islands and Norfolk Island assets
Division 104 - CGT events
Subdivision 104-C - End of a CGT asset
SECTION 104-25 Cancellation, surrender and similar endings
Subdivision 104-D - Bringing into existence a CGT asset
SECTION 104-40 Granting an option
Subdivision 104-E - Trusts
SECTION 104-70 Capital payment before 18 December 1986 for trust interest
Subdivision 104-G - Shares
SECTION 104-135 Capital payment for shares
Subdivision 104-I - Australian residency ends
SECTION 104-165 Choices made under subsection 104-165(2) of the Income Tax Assessment Act 1997
SECTION 104-166 Subsection 104-165(1) still applies if you continue to be a short term Australian resident
Subdivision 104-J - CGT events relating to roll-overs
SECTION 104-175 Company ceasing to be member of wholly-owned group after roll-over
SECTION 104-185 Change of status of replacement asset for a roll-over under Division 17A of former Part IIIA of the 1936 Act or Division 123 of the 1997 Act
### (Repealed) SECTION 104-190 Change of circumstances where a share or interest is a replacement asset for a roll-over under Division 17A of former Part IIIA of the 1936 Act or Division 123 of the 1997 Act
Subdivision 104-K - Other CGT events
SECTION 104-205 Partial realisation of intellectual property
SECTION 104-235 CGT event K7: asset used for old law R & D activities
Division 108 - CGT assets
Subdivision 108-A - What a CGT asset is
SECTION 108-5 CGT assets
Subdivision 108-B - Collectables
SECTION 108-15 Sets of collectables
Subdivision 108-D - Separate CGT assets
SECTION 108-75 Capital improvements to CGT assets for which a roll-over may be available
SECTION 108-85 Improvement threshold
Division 109 - Acquisition of CGT assets
Subdivision 109-A - Operative rules
SECTION 109-5 General acquisition rules
Division 110 - Cost base and reduced cost base
Subdivision 110-A - Cost base
SECTION 110-25 Cost base of CGT asset of life insurance company or registered organisation
SECTION 110-35 Incidental costs
Division 112 - Modifications to cost base and reduced cost base
Subdivision 112-A - General rules
SECTION 112-20 Market value substitution rule
Subdivision 112-B - Special rules
SECTION 112-100 Effect of terminated gold mining exemptions
Division 114 - Indexation of cost base
SECTION 114-5 When indexation relevant
Division 118 - Exemptions
Subdivision 118-A - General exemptions
SECTION 118-10 Interests in collectables
SECTION 118-24A Pilot plant
Subdivision 118-B - Main residence
SECTION 118-110 Foreign residents
SECTION 118-195 Exemption - dwelling acquired from deceased estate
Subdivision 118-C - Goodwill
SECTION 118-260 Business exemption threshold
Division 121 - Record keeping
SECTION 121-15 Retaining records under Division 121
SECTION 121-25 Records for mergers between qualifying superannuation funds
PART 3-3 - CAPITAL GAINS AND LOSSES: SPECIAL TOPICS
Division 124 - Replacement-asset roll-overs
Subdivision 124-C - Statutory licences
SECTION 124-140 New statutory licence - ASGE licence etc
SECTION 124-141 ASGE licence etc - cost base of ineligible part
SECTION 124-142 ASGE licence etc. - cost base of aquifer access licence etc.
Subdivision 124-I - Change of incorporation
SECTION 124-510 APPLICATION OF SUBDIVISION 124-I OF THE INCOME TAX ASSESSMENT ACT 1997
Division 125 - Demerger relief
Subdivision 125-B - Consequences for owners of interests
SECTION 125-75 Employee share schemes
Division 126 - Roll-overs
Subdivision 126-A - Merger of qualifying superannuation funds
SECTION 126-100 Merger of qualifying superannuation funds
Subdivision 126-B - Transfer of life insurance business
SECTION 126-150 Roll-over on transfer of life insurance business
### (Repealed) SECTION 126-155 When there is a roll-over
SECTION 126-160 Effects of roll-over
SECTION 126-165 References to Subdivision 126-B of the Income Tax Assessment Act 1997
Division 128 - Effect of death
SECTION 128-15 Effect on the legal personal representative or beneficiary
Division 130 - Investments
Subdivision 130-A - Bonus shares and units
SECTION 130-20 Issue of bonus shares or units
Subdivision 130-B - Rights
SECTION 130-40 Exercise of rights
Subdivision 130-C - Convertible notes
SECTION 130-60 Shares or units acquired by converting a convertible note
(Repealed) Subdivision 130-DA - Employee share schemes
### (Repealed) SECTION 130-80 Extension of trust holding period
(Repealed) Subdivision 130-D - Employee share schemes
### (Repealed) SECTION 130-95 Application of Subdivision
### (Repealed) SECTION 130-100 Cost base modification
### (Repealed) SECTION 130-105 Time of acquisition
### (Repealed) SECTION 130-110 Disposals by trustees
### (Repealed) SECTION 130-115 Deceased estates
### (Repealed) SECTION 130-120 Amendment of assessments
Division 134 - Options
SECTION 134-1 Exercise of options
Division 136 - Foreign residents
Subdivision 136-A - Making a capital gain or loss
SECTION 136-25 When an asset is taxable Australian property
Division 137 - Granny flat arrangements
Subdivision 137-A - Granny flat arrangements
SECTION 137-10 Applicable CGT events
Division 140 - Share value shifting
Subdivision 140-A - When is there share value shifting?
SECTION 140-7 Pre-1994 share value shifts irrelevant
SECTION 140-15 Off-market buy backs
Division 149 - When an asset stops being a pre-CGT asset
SECTION 149-5 Assets that stopped being pre-CGT assets under old law
Division 152 - Small business relief
SECTION 152-5 Small business roll-over chosen but no capital gain returned
SECTION 152-10 Small business roll-over not chosen and time remains to acquire a replacement asset
SECTION 152-15 Amendment of assessments
PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS
(Repealed) Division 160 - Loss carry back tax offset
(Repealed) Subdivision 160-A - Application of Division 160 of the Income Tax Assessment Act 1997
### (Repealed) SECTION 160-1 Application of Division 160 of the Income Tax Assessment Act 1997
### (Repealed) SECTION 160-5 Modification for 2012-13 income year - no carry back to 2010-11 income year
Division 165 - Income tax consequences of changing ownership or control of a company
Subdivision 165-CA - Applying net capital losses of earlier income years
SECTION 165-95 Application of Subdivision 165-CA of the Income Tax Assessment Act 1997
Subdivision 165-CB - Working out the net capital gain and the net capital loss for the income year of the change
SECTION 165-105 Application of Subdivision 165-CB of the Income Tax Assessment Act 1997
Subdivision 165-CC - Change of ownership or control of company that has an unrealised net loss
SECTION 165-115E Choice to use global method to work out unrealised net loss
Subdivision 165-CD - Reductions after alterations in ownership or control of loss company
SECTION 165-115U Choice to use global method to work out adjusted unrealised loss
SECTION 165-115ZC When certain notices to be given
SECTION 165-115ZD Adjustment (or further adjustment) for interest realised at a loss after global method has been used
Subdivision 165-C - Deducting bad debts
SECTION 165-135 Application of Subdivision 165-C of the Income Tax Assessment Act 1997
Division 166 - Income tax consequences of changing ownership or control of a listed public company
Subdivision 166-C - Deducting bad debts
SECTION 166-40 Application of Subdivision 166-C of the Income Tax Assessment Act 1997
Division 167 - Companies whose shares carry unequal rights to dividends, capital distributions or voting power
SECTION 167-1 Application of provisions
Division 170 - Treatment of company groups for income tax purposes
Subdivision 170-A - Transfer of tax losses within certain wholly-owned groups of companies
SECTION 170-45 Special rules affecting utilisation of losses in a bundle do not affect the amount of a tax loss that can be transferred
SECTION 170-55 Ordering rule for losses previously transferred under subdivision 707-A of the Income Tax Assessment Act 1997
Subdivision 170-B - Transfer of net capital losses within certain wholly-owned groups of companies
SECTION 170-101 Application of Subdivision 170-B of the Income Tax Assessment Act 1997
SECTION 170-145 Special rules affecting utilisation of losses in a bundle do not affect the amount of a net capital loss that can be transferred
SECTION 170-155 Ordering rule for losses previously transferred under Subdivision 707-A of the Income Tax Assessment Act 1997
### (Repealed) SECTION 170-175 Direct and indirect interests in the loss company
### (Repealed) SECTION 170-180 Direct and indirect interests in the gain company
Subdivision 170-C - Provisions applying to both transfers of tax losses and transfers of net capital losses within wholly-owned groups of companies
SECTION 170-220 Direct and indirect interests in the loss company
SECTION 170-225 Direct and indirect interests in the gain company
Subdivision 170-D - Transfer of life insurance business
SECTION 170-300 Transfer of life insurance business
Division 175 - Use of a company ' s losses, deductions or bad debts to avoid income tax
Subdivision 175-CA - Tax benefits from unused net capital losses of earlier income years
SECTION 175-40 Application of Subdivision 175-CA of the Income Tax Assessment Act 1997
Subdivision 175-CB - Tax benefits from unused capital losses of the current year
SECTION 175-55 Application of Subdivision 175-CB of the Income Tax Assessment Act 1997
Subdivision 175-C - Tax benefits from unused bad debt deductions
SECTION 175-78 Application of Subdivision 175-C of the Income Tax Assessment Act 1997
Division 197 - Tainted share capital accounts
Subdivision 197-A - Definitions
SECTION 197-1 Definitions
Subdivision 197-B - General application provision
SECTION 197-5 Application of new Division 197
Subdivision 197-C - Special provisions about companies whose share capital accounts were tainted when old Division 7B was closed off
SECTION 197-10 Subdivision applies to companies whose share capital accounts were tainted when old Division 7B was closed off
SECTION 197-15 Account taken to have ceased to be tainted when old Division 7B was closed off
SECTION 197-20 After introduction day, account taken to have become tainted under new Division 197 to extent of previous tainting
SECTION 197-25 Special provisions if company chooses to untaint after introduction day
PART 3-6 - THE IMPUTATION SYSTEM
Division 201 - Object and application of Part 3-6
SECTION 201-1 Estimated debits
Division 203 - Benchmark rule
SECTION 203-1 Franking periods straddling 1 July 2002
Division 205 - Franking accounts
SECTION 205-1 Order of events provision
SECTION 205-5 Washing estimated debits out of the franking account before conversion
SECTION 205-10 Converting the franking account balance to a tax paid basis - companies whose 2001-02 franking year ends on 30 June 2002
SECTION 205-15 Converting the franking account balance to a tax paid basis - companies whose 2001-02 franking year ends before 30 June 2002
SECTION 205-20 A late balancing company may elect to have its FDT liability determined on 30 June
SECTION 205-25 Franking deficit tax
SECTION 205-30 Deferring franking deficit
SECTION 205-35 No franking deficit tax if franking account in deficit at the close of the 2001-02 income year of a late balancing entity
SECTION 205-70 Tax offset arising from franking deficit tax liabilities
SECTION 205-71 Modification of franking deficit tax offset rules
SECTION 205-75 Working out the tax offset for the first income year
SECTION 205-80 Application of Subdivision C of Division 5 of former Part IIIAA of the Income Tax Assessment Act 1936
Division 208 - Exempting entities and former exempting entities
SECTION 208-111 Converting former exempting company ' s exempting account balance on 30 June 2002
Division 210 - Venture capital franking
SECTION 210-1 Order of events provision
SECTION 210-5 Washing estimated venture capital debits out of the old sub-account before conversion
SECTION 210-10 Converting the venture capital sub-account balance to a tax paid basis - PDFs whose 2001-02 franking year ends on 30 June 2002
SECTION 210-15 Converting the venture capital sub-account balance to a tax paid basis - PDFs whose 2001-02 franking year ends before 30 June 2002
Division 214 - Administering the imputation system
SECTION 214-1 Application
SECTION 214-5 Entity must give a franking return
SECTION 214-10 Notice to a specific corporate tax entity
SECTION 214-15 Effect of a refund on franking returns
SECTION 214-20 Franking returns for the income year
SECTION 214-25 Commissioner may make a franking assessment
SECTION 214-30 Commissioner taken to have made a franking assessment on first return
SECTION 214-35 Amendments within 3 years of the original assessment
SECTION 214-40 Amended assessments are treated as franking assessments
SECTION 214-45 Further return as a result of a refund affecting a franking deficit tax liability
SECTION 214-50 Later amendments - on request
SECTION 214-55 Later amendments - failure to make proper disclosure
SECTION 214-60 Later amendments - fraud or evasion
SECTION 214-65 Further amendment of an amended particular
SECTION 214-70 Other later amendments
SECTION 214-75 Amendment on review etc.
SECTION 214-80 Notice of amendments
SECTION 214-85 Validity of assessment
SECTION 214-90 Objections
### (Repealed) SECTION 214-95 Evidence
SECTION 214-100 Due date for payment of franking tax
SECTION 214-105 General interest charge
SECTION 214-110 Refunds of amounts overpaid
### (Repealed) SECTION 214-115 Security for payment of tax
SECTION 214-120 Record keeping
SECTION 214-125 Power of Commissioner to obtain information
### (Repealed) SECTION 214-130 Tax agents
SECTION 214-135 Interpretation
Division 219 - Imputation for life insurance companies
SECTION 219-40 Reversing and replacing (on tax paid basis) certain franking credits that arose before 1 July 2002
SECTION 219-45 Reversing (on tax paid basis) certain franking debits that arose before 1 July 2002
Division 220 - Imputation for NZ resident companies and related companies
SECTION 220-1 Application to things happening on or after 1 April 2003
SECTION 220-5 Residency requirement for income year including 1 April 2003
SECTION 220-10 NZ franking company cannot frank before 1 October 2003
SECTION 220-35 Extended time to make NZ franking choice
SECTION 220-501 Franking and exempting accounts of new former exempting entities
PART 3-10 - FINANCIAL TRANSACTIONS
Division 235 - Particular financial transactions
Subdivision 235-I - Instalment trusts
SECTION 235-810 Application of Subdivision 235-I of the Income Tax Assessment Act 1997
Division 242 - Leases of luxury cars
SECTION 242-10 Application
SECTION 242-20 Balancing adjustments
Division 245 - Forgiveness of commercial debts
Subdivision 245-A - Application of Division 245 of the Income Tax Assessment Act 1997
SECTION 245-5 Application and saving
SECTION 245-10 Pre-28 June 1996 arrangements etc.
Division 247 - Capital protected borrowings
Subdivision 247-A - Interim apportionment methodology
SECTION 247-5 Interim apportionment methodology
SECTION 247-10 Products listed on the Australian Stock Exchange that have explicit put options
SECTION 247-15 Other capital protected products
SECTION 247-20 The indicator method
SECTION 247-25 The percentage method
Subdivision 247-B - Other transitional provisions
SECTION 247-75 Post-July 2007 capital protected borrowings
SECTION 247-80 Capital protected borrowings in existence on 1 July 2013
SECTION 247-85 Extensions and other changes
Division 253 - Financial claims scheme for account-holders with insolvent ADIs
Subdivision 253-A - Tax treatment of entitlements under financial claims scheme
SECTION 253-5 Application of section 253-5 of the Income Tax Assessment Act 1997
SECTION 253-10 Application of sections 253-10 and 253-15 of the Income Tax Assessment Act 1997
PART 3-25 - PARTICULAR KINDS OF TRUSTS
Division 275 - Australian managed investment trusts
Subdivision 275-A - Choice for capital treatment of MIT gains and losses
SECTION 275-10 Consequences of making choice - Commissioner cannot make certain amendments to previous assessments
Subdivision 275-L - Modification for non-arm ' s length income
SECTION 275-605 Trustee taxed on amount of non-arm ' s length income of managed investment trust - not applicable for pre-introduction scheme where amount derived before start of 2018-19 income year
Division 276 - Attribution managed investment trusts
Subdivision 276-A - Application
SECTION 276-5 Application of Division 276
Subdivision 276-B - Starting income year
SECTION 276-25 Starting income year
Subdivision 276-T - Becoming an AMIT: unders and overs
SECTION 276-700 Application of Subdivision to MIT that becomes AMIT
SECTION 276-705 Accounting for unders and overs for base years before becoming an AMIT
Subdivision 276-U - Becoming an AMIT: CGT treatment of payment by trustee of AMIT
SECTION 276-750 Payment by trustee on or after 1 July 2011 - certain CGT provisions etc. apply for the purposes of working out non-assessable part for first income year of AMIT
SECTION 276-755 Payment by trustee before 1 July 2011 - limit on amendment of assessment
PART 3-30 - SUPERANNUATION
Division 290 - Contributions
SECTION 290-10 Directed termination payments not deductible etc
SECTION 290-15 Early balancers - deduction limits from end of 2006-2007 income year to 1 July 2007
Division 291 - Excess concessional contributions
Subdivision 291-A - Application of Division 291 of the Income Tax Assessment Act 1997
SECTION 291-10 Application of Division 291 of the Income Tax Assessment Act 1997
(Repealed) Subdivision 291-B - Excess concessional contributions
### (Repealed) SECTION 291-20 Concessional contributions cap for older Australians - $35,000
Subdivision 291-C - Modifications for defined benefit interests
SECTION 291-170 Transitional rules for notional taxed contributions
Division 292 - Excess non-concessional contributions tax
### (Repealed) SECTION 292-20 Concessional contributions cap for older Australians - $35,000
### (Repealed) SECTION 292-25 Excess directed termination payments included in concessional contributions
SECTION 292-80 Application of excess non-concessional contributions tax from 10 May 2006 to 1 July 2007
SECTION 292-80A Transitional release authority
SECTION 292-80B Giving a transitional release authority to a superannuation provider
SECTION 292-80C Superannuation provider given transitional release authority must pay amount
SECTION 292-85 Non-concessional contributions cap for a financial year
SECTION 292-90 Non-concessional contributions for a financial year
Division 293 - Sustaining the superannuation contribution concession
Subdivision 293-A - Application of Division 293 tax rules
SECTION 293-10 Application of Division 293 of the Income Tax Assessment Act 1997
Division 294 - Transfer balance cap
Subdivision 294-A - Application of Division 294 of the Income Tax Assessment Act 1997
SECTION 294-10 Application of Division 294 of the Income Tax Assessment Act 1997
SECTION 294-30 Minor excess transfer balances disregarded if remedied in first 6 months
SECTION 294-55 Repayment of limited recourse borrowing arrangements
SECTION 294-80 Structured settlement contributions made before 1 July 2017 - debit increased to match credits
Subdivision 294-B - CGT relief
SECTION 294-100 Object
SECTION 294-105 Interpretation
SECTION 294-110 Segregated current pension assets
SECTION 294-115 Superannuation funds using the proportionate method - deemed sale and purchase of CGT asset
SECTION 294-120 Superannuation funds using the proportionate method - disregard initial capital gain but recognise deferred notional gain
SECTION 294-125 Pooled superannuation trust using proportionate or alternative exemption method - deemed sale and purchase of CGT asset
SECTION 294-130 Pooled superannuation trusts using proportionate or alternative exemption method - disregard initial capital gain but recognise deferred notional gain
Division 295 - Taxation of superannuation entities
Subdivision 295-B - Modifications of the Income Tax Assessment Act 1997 for 30 June 1988 assets
SECTION 295-75 Application of Subdivision
SECTION 295-80 Meaning of 30 June 1988 asset
SECTION 295-85 Cost base of 30 June 1988 asset
SECTION 295-90 Market value of stock exchange listed assets
SECTION 295-95 Adjustment of cost base as at 30 June 1988 - return of capital
SECTION 295-100 Exercise of rights
Subdivision 295-C - Notices relating to contributions
SECTION 295-190 Deductions for personal contributions
Subdivision 295-F - Exempt income
SECTION 295-390 Fixed interest complying ADFs - exemption of income attributable to certain 25 May 1988 deposits
Subdivision 295-G - Deductions
SECTION 295-465 Complying funds - deductions for insurance premiums
### (Repealed) SECTION 295-466 Complying funds - deductions for insurance premiums for disability superannuation benefits
### (Repealed) SECTION 295-467 Complying funds - deductions for self-insurance for disability superannuation benefits
### (Repealed) SECTION 295-485A Meaning of spouse and child for 2008-2009 income year
### (Repealed) SECTION 295-485 Deductions for increased amount of superannuation lump sum death benefit
Subdivision 295-I - No-TFN contributions income
SECTION 295-610 No-TFN contributions income
Division 301 - Superannuation member benefits paid from complying plans etc
SECTION 301-5 Extended application to certain foreign superannuation funds
SECTION 301-85 Extended meaning of disability superannuation benefit for superannuation income stream
SECTION 301-90 Application of Subdivision 301-F of the Income Tax Assessment Act 1997
SECTION 301-95 Amendment of assessments to give effect to Subdivision 301-F of the Income Tax Assessment Act 1997 etc.
SECTION 301-100 Amendment of assessments - transitional rule for permanent incapacity benefits, etc.
SECTION 301-105 Transitional rules for Schedule 9 to the Treasury Laws Amendment (2022 Measures No. 4) Act 2023
Division 302 - Superannuation death benefits paid from complying plans etc
SECTION 302-5 Extended application to certain foreign superannuation funds
SECTION 302-195 Extended meaning of death benefits dependant for superannuation income stream
SECTION 302-195A Meaning of death benefits dependant for 2008-2009 income year
Division 303 - Superannuation benefits paid in special circumstances
SECTION 303-10 Superannuation lump sum member benefit paid to member having a terminal medical condition
SECTION 303-15 Superannuation lump sum member benefit paid to member on compassionate ground relating to the coronavirus
Division 304 - Superannuation benefits in breach of legislative requirements etc
SECTION 304-15 Excess payments from release authorities
Division 305 - Superannuation benefits paid from non-complying superannuation plans
Subdivision 305-B - Superannuation benefits from foreign superannuation funds
SECTION 305-80 Lump sums paid into complying superannuation plans post-FIF abolition
Division 306 - Roll-overs etc
SECTION 306-10 Roll-over superannuation benefit - directed termination payment
Division 307 - Key concepts relating to superannuation benefits
SECTION 307-125 Treatment of tax free component of existing pension payments etc
SECTION 307-127 Extension - income stream replacing an earlier one because of an involuntary roll-over
SECTION 307-230 Total superannuation balance - modification for transfer balance just before 1 July 2017
SECTION 307-231 Total superannuation balance - limited recourse borrowing arrangements
SECTION 307-290 Taxed and untaxed elements of death benefit superannuation lump sums
SECTION 307-345 Low rate component - Effect of rebate under the Income Tax Assessment Act 1936
PART 3-32 - CO-OPERATIVES AND MUTUAL ENTITIES
Division 316 - Demutualisation of friendly society health or life insurers
Subdivision 316-A - Application
SECTION 316-1 Application of Division 316 of the Income Tax Assessment Act 1997
PART 3-35 - INSURANCE BUSINESS
Division 320 - Life insurance companies
Operative provisions Subdivision 320-A - Preliminary
SECTION 320-5 Life insurance companies that are friendly societies
Subdivision 320-C - Deductions and capital losses
SECTION 320-85 Deduction for increase in value of liabilities under risk components of life insurance policies
Subdivision 320-D - Taxable income and tax loss of life insurance companies
SECTION 320-100 Savings - tax losses of previous income years
Subdivision 320-F - Virtual PST
SECTION 320-170 Transfer of part of an asset to a virtual PST
SECTION 320-175 Transfers of assets to virtual PST
SECTION 320-180 Deferred annuities purchased before 1 July 2007
Subdivision 320-H - Segregation of assets for the purpose of discharging exempt life insurance policies
SECTION 320-225 Transfer of part of an asset to segregated exempt assets
SECTION 320-230 Transfers of assets to segregated exempt assets
### (Repealed) SECTION 320-246 Exempt life insurance policy - extended meaning of roll-over superannuation benefit
Division 322 - Assistance for policyholders with insolvent general insurers
Subdivision 322-B - Tax treatment of entitlements under financial claims scheme
SECTION 322-25 Application of section 322-25 of the Income Tax Assessment Act 1997
SECTION 322-30 Application of section 322-30 of the Income Tax Assessment Act 1997
PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS
Division 328 - Small business entities
SECTION 328-1 Definitions
SECTION 328-110 Working out whether you are a small business entity for the 2007-08 or 2008-09 income year - turnover for earlier income years
SECTION 328-111 Access to certain small business concessions for former STS taxpayers that are winding up a business
SECTION 328-112 Working out whether you are a small business entity for certain small business concessions - entities connected with you
SECTION 328-115 When you stop using the STS accounting method
SECTION 328-120 Continuing to use the STS accounting method
SECTION 328-125 Meaning of STS accounting method
SECTION 328-175 Choices made in relation to depreciating assets used in primary production business
SECTION 328-180 Increased access to accelerated depreciation from 12 May 2015 to 30 June 2024
SECTION 328-181 Full expensing - 2020 budget time to 30 June 2023
SECTION 328-182 Backing business investment
SECTION 328-185 Depreciating assets allocated to STS pools
SECTION 328-195 Opening pool balances for 2007-08 income year
SECTION 328-200 General small business pool for the 2012-13 income year
SECTION 328-440 Taxpayers who left the STS on or after 1 July 2005
SECTION 328-445 Bonus deduction for upskilling employees of small business entities etc.
SECTION 328-450 Expenditure eligible for the bonus deduction for upskilling employees of small business entities etc.
SECTION 328-455 Technology investment boost deduction
SECTION 328-460 What expenditure qualifies for the technology investment boost
SECTION 328-465 Energy incentive
SECTION 328-470 What expenditure qualifies for the energy incentive
Division 355 - Research and Development
Subdivision 355-D - Registration for activities before 2011-12 income year
SECTION 355-200 Registration for activities before 2011-12 income year
Subdivision 355-E - Balancing adjustments for decline in value deductions for assets used in R & D activities
SECTION 355-320 Balancing adjustment - assets only used for R & D activities
SECTION 355-325 Balancing adjustment - R & D partnership assets only used for R & D activities
SECTION 355-340 Balancing adjustment - tax exempt entities that become taxable
Subdivision 355-F - Integrity rules
SECTION 355-415 Expenditure reduced to reflect group mark-ups
Subdivision 355-K - Modified application of the old R & D law
SECTION 355-550 Prepayments of R & D expenditure extending into the 2011-12 income year
Subdivision 355-M - Undeducted core technology expenditure
SECTION 355-600 Scope
SECTION 355-605 Core technology that is a depreciating asset
SECTION 355-610 Core technology that is not a depreciating asset
### (Repealed) SECTION 355-720 Certain related amounts may be reduced if notional deductions exceeded $100 million
Division 375 - Australian films
Subdivision 375-G - Film losses
SECTION 375-100 Film component of tax loss for 1997-98 or later income year
SECTION 375-105 Film component of tax loss for 1989-90 to 1996-97 income years
SECTION 375-110 Film loss for 1989-90 or later income year
Division 392 - Long-term averaging of primary producers ' tax liability
SECTION 392-1 Application of Division 392 of the Income Tax Assessment Act 1997
SECTION 392-25 Transitional provision - election under section 158A of the Income Tax Assessment Act 1936
Division 393 - Farm management deposits
Subdivision 393-A - Tax consequences of farm management deposits
SECTION 393-1 Application of Division 393 of the Income Tax Assessment Act 1997
SECTION 393-5 Unrecouped FMD deduction
SECTION 393-10 Unrecouped FMD deduction for deposits made as a result of section 25B of the Loan (Income Equalization Deposits) Act 1976
SECTION 393-27 Trustee may choose that a beneficiary is a chosen beneficiary of the trust
SECTION 393-30 Unclaimed moneys
Subdivision 393-B - Meaning of farm management deposit and owner
SECTION 393-40 The day the deposit was made for deposits made as a result of section 25B of the Loan (Income Equalization Deposits) Act 1976
Division 410 - Copyright collecting societies
SECTION 410-1 Application of section 51-43 of the Income Tax Assessment Act 1997
Division 415 - Designated infrastructure projects
Subdivision 415-B - Application of Subdivision 415-B of the Income Tax Assessment Act 1997
SECTION 415-10 Application of Subdivision 415-B of the Income Tax Assessment Act 1997
PART 3-50 - CLIMATE CHANGE
Division 420 - Registered emissions units
Subdivision 420-A - General application provision
SECTION 420-1 Application of Division 420 of the Income Tax Assessment Act 1997
(Repealed) Subdivision 420-B - Units held before the commencement of Division 420 of the Income Tax Assessment Act 1997
### (Repealed) SECTION 420-5 Transitional provision - units held before the commencement of Division 420 of the Income Tax Assessment Act 1997
PART 3-80 - ROLL-OVERS APPLYING TO ASSETS GENERALLY
Division 615 - Roll-overs for business restructures
Subdivision 615-A - Modifications for roll-overs between the 2011 and 2012 Budget times
SECTION 615-5 Roll-overs between the 2011 and 2012 Budget times
SECTION 615-10 Modifications - when additional consequences can apply
SECTION 615-15 Modifications - trading stock
SECTION 615-20 Modifications - revenue assets
Division 620 - Assets of wound-up corporation passing to corporation with not significantly different ownership
Subdivision 620-A - Corporations covered by Subdivision 124-I
SECTION 620-10 Application of Subdivision 620-A of the Income Tax Assessment Act 1997
PART 3-90 - CONSOLIDATED GROUPS
Division 700 - Application of Part 3-90 of Income Tax Assessment Act 1997
SECTION 700-1 Application of Part 3-90 of Income Tax Assessment Act 1997
Division 701 - Modified application of provisions of Income Tax Assessment Act 1997 for certain consolidated groups formed in 2002-03 and 2003-04 financial years
Subdivision 701-A - Preliminary
SECTION 701-1 Transitional group and transitional entity
SECTION 701-5 Chosen transitional entity
SECTION 701-7 Working out the cost base or reduced cost base of a pre-CGT asset after certain roll-overs
SECTION 701-10 Interpretation
Subdivision 701-B - Modified application of provisions
SECTION 701-15 Tax cost and trading stock value not set for assets of chosen transitional entities
SECTION 701-20 Working out allocable cost amount on formation for subsidiary members other than chosen transitional entities
SECTION 701-25 No operation of value shifting and loss transfer provisions to membership interests in chosen transitional entities
### (Repealed) SECTION 701-30 Undistributed, untaxed pre-formation profits of non-chosen transitional entities - adjustment to allocable cost amount and tax cost setting amount reduction for over-depreciated assets
SECTION 701-32 No adjustment of amount of liabilities required in working out allocable cost amount
### (Repealed) SECTION 701-34 CGT event L7 does not happen in respect of certain liabilities
SECTION 701-35 Act, transaction or event giving rise to CGT event for pre-formation roll-over after 16 May 2002 to be disregarded if cost base etc. would be different
SECTION 701-40 When entity leaves transitional group, head company may choose, for purposes of transitional group ' s allocable cost amount, to increase terminating values of over-depreciated assets
SECTION 701-45 When entity leaves transitional group, head company may choose, for purposes of transitional group's allocable cost amount, to use formation time market values, instead of terminating values, for certain pre-CGT assets
SECTION 701-50 Increased allocable cost amount for leaving entity if it takes privatised asset brought into group by chosen transitional entity
Division 701A - Modified application of provisions of Income Tax Assessment Act 1997 for entities with continuing majority ownership from 27 June 2002 until joining a consolidated group
SECTION 701A-1 Continuing majority-owned entity, designated group etc.
SECTION 701A-5 Modified application of Part 3-90 of Income Tax Assessment Act 1997 to trading stock of continuing majority-owned entity
SECTION 701A-7 Modified application of Part 3-90 of Income Tax Assessment Act 1997 to registered emissions units of continuing majority-owned entity
SECTION 701A-10 Modified application of Part 3-90 of Income Tax Assessment Act 1997 to certain internally generated assets of continuing majority-owned entity
Division 701B - Modified application of provisions of Income Tax Assessment Act 1997 relating to CGT event L1
SECTION 701B-1 Modified application of CGT Consolidation provisions to allow immediate availability of capital loss for CGT event L1
Division 701C - Modified application etc. of provisions of Income Tax Assessment Act 1997: transitional foreign-held membership structures
Subdivision 701C-A - Overview
SECTION 701C-1 Overview
Subdivision 701C-B - Membership rules allowing foreign holding
SECTION 701C-10 Additional membership rules where entities are interposed between the head company and a subsidiary member - case where an interposed entity is a foreign resident and the subsidiary member is a company
SECTION 701C-15 Additional membership rules where entities are interposed between the head company and a subsidiary member - case where an interposed entity is a foreign resident and the subsidiary member is a trust or partnership
SECTION 701C-20 Transitional foreign-held subsidiaries and transitional foreign-held indirect subsidiaries
Subdivision 701C-C - Modifications of tax cost setting rules
SECTION 701C-25 Application and object of this Subdivision
SECTION 701C-30 Transitional foreign-held subsidiary to be treated as part of head company
SECTION 701C-35 Trading stock value not set for assets of transitional foreign-held subsidiaries
SECTION 701C-40 Cost setting rules for exit cases - modification of core rules
SECTION 701C-50 Cost setting rules for exit cases - reference to modification of core rule
Division 701D - Transitional foreign loss makers
Subdivision 701D-A - Object of this Division
SECTION 701D-1 Object of this Division
Subdivision 701D-B - Rules allowing transitional foreign loss makers to remain outside consolidated group
SECTION 701D-10 Transitional foreign loss maker not member of group if certain conditions satisfied
SECTION 701D-15 Choice to apply transitional rules to entity
Division 702 - Modified application of this Act to assets that an entity brings into a consolidated group
SECTION 702-1 Modified application of section 40-77 of this Act to assets that an entity brings into a consolidated group
SECTION 702-4 Extended operation of subsection 40-285(3)
SECTION 702-5 Modified application of subsection 40-285(6) of this Act after entity brings assets into consolidated group
Division 703 - Consolidated groups and their members
SECTION 703-30 Debt interests that are not membership interests
SECTION 703-35 Employee share schemes
Division 705 - Tax cost setting amount for assets where entities become members of consolidated groups
Subdivision 705-E - Expenditure relating to exploration, mining or quarrying
SECTION 705-300 Application and object of this Subdivision
SECTION 705-305 Rules affecting depreciating assets
SECTION 705-310 Adjustable value of head company ' s notional assets
Division 707 - Losses for head companies when entities become members, etc
Subdivision 707-A - Transfer of losses to head company
SECTION 707-145 Certain choices to cancel the transfer of a loss may be revoked
Subdivision 707-C - Amount of transferred losses that can be utilised
SECTION 707-325 Increasing the available fraction for a bundle of losses by increasing the real loss-maker ' s modified market value
SECTION 707-326 Events involving only value donor and real loss-maker not covered by rule against inflation of modified market value
SECTION 707-327 Choosing available fraction to apply to value donor ' s loss
SECTION 707-328 Income year and conditions for possible transfer under Division 170 of the Income Tax Assessment Act 1997
SECTION 707-328A Some events involving only group members not covered by rule against inflation of modified market value
SECTION 707-329 Modified market value at a time before 8 December 2004
SECTION 707-350 Alternative loss utilisation regime to Subdivision 707-C of the Income Tax Assessment Act 1997
SECTION 707-355 Ignore certain losses in working out when a choice can be made under this Subdivision
Subdivision 707-D - Special rules about losses
SECTION 707-405 Special rules about losses referable to part of income year
Division 709 - Other rules applying when entities become subsidiary members etc.
Subdivision 709-D - Deducting bad debts
SECTION 709-200 Application of Subdivision 709-D of the Income Tax Assessment Act 1997
Division 712 - Certain rules for where entities cease to be subsidiary members of consolidated groups
Subdivision 712-E - Expenditure relating to exploration, mining or quarrying
SECTION 712-305 Reducing adjustable value of head company ' s notional asset
Division 713 - Rules for particular kinds of entities
Subdivision 713-L - Transitional relief for certain transactions relating to life insurance companies
SECTION 713-500 Object of Subdivision
SECTION 713-505 When this Subdivision applies (first case)
SECTION 713-510 When this Subdivision applies (second case)
SECTION 713-515 Entities must choose the relief
SECTION 713-520 Conditions
SECTION 713-525 Time of transfer
SECTION 713-530 What the relief is
SECTION 713-535 Subsequent consequences
SECTION 713-540 Requirement to notify happening of new event
SECTION 713-545 Discount capital gain in certain cases
Subdivision 713-M - General insurance companies
SECTION 713-700 Application
Division 715 - Interactions between the consolidation rules and other areas of the income tax law
Subdivision 715-F - Interactions with Division 230 (financial arrangements)
SECTION 715-380 Exit history rule not to affect certain matters related to Division 230 financial arrangements
Subdivision 715-J - Entry history rule and choices
SECTION 715-658 Application
SECTION 715-659 Extension of time for making choice if joining time was before commencement
Subdivision 715-K - Exit history rule and choices
SECTION 715-698 Application
SECTION 715-699 Extension of time for making choice if leaving time was before commencement
Division 716 - Miscellaneous special rules
Subdivision 716-G - Software development pools
SECTION 716-340 Expenditure incurred before 1 July 2001 and allocated to a software pool
(Repealed) Division 717 - International tax rules
### (Repealed) SECTION 717-15 Head company ' s accelerated access to joining entity ' s excess foreign tax credits from earlier years
### (Repealed) SECTION 717-20 Head company ' s accelerated access to joining entity ' s excess foreign tax credits from joining year
### (Repealed) SECTION 717-25 No double counting of foreign tax
### (Repealed) SECTION 717-30 Substituted accounting periods
Division 719 - MEC rules
Subdivision 719-A - Modified application of Part 3-90 to MEC groups
SECTION 719-2 Modified application of Part 3-90 to MEC groups
Subdivision 719-B - MEC groups and their members
SECTION 719-5 Debt interests that are not membership interests
SECTION 719-10 Effect of Division 701C
SECTION 719-15 Modified effect of subsection 701D-10(2)
SECTION 719-30 Employee share schemes
Subdivision 719-C - Cost setting
SECTION 719-160 Transitional cost setting rules on joining have effect with modifications
SECTION 719-161 Modified effect of section 701-1
SECTION 719-163 Modified effect of section 701-35
SECTION 719-165 Modified effect of paragraph 701-45(1)(b)
Subdivision 719-F - Losses
SECTION 719-305 Available fraction for bundle of losses not affected by concessional rules
SECTION 719-310 Certain choices may be revoked
Subdivision 719-I - Bad debts
SECTION 719-450 Application of Subdivision 719-I of the Income Tax Assessment Act 1997
Division 721 - Liability for payment of tax where head company fails to pay on time
Subdivision 721-A - Application of Division
SECTION 721-25 References in tax sharing agreements to former table item 25
PART 3-95 - VALUE SHIFTING
Division 723 - Direct value shifting by creating right over non-depreciating asset
SECTION 723-1 Application of Division 723
Division 725 - Direct value shifting affecting interests in companies and trusts
SECTION 725-1 Application of Division 725
Division 727 - Indirect value shifting affecting interests in companies and trusts, and arising from non-arm's length dealings
SECTION 727-1 Application of Division 727
SECTION 727-230 Transitional exclusion for certain indirect value shifts relating mainly to services
SECTION 727-470 Affected interests do not include equity or loan interests owned by entity that is eligible to be an STS taxpayer
CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX
PART 4-5 - GENERAL
(Repealed) Division 770 - Foreign income tax offsets and foreign losses
(Repealed) Subdivision 770-A - Transitional foreign losses (common rules)
### (Repealed) SECTION 770-1 Converting a past foreign loss into a tax loss
### (Repealed) SECTION 770-5 Convertible foreign loss
### (Repealed) SECTION 770-10 Reducing an unutilised overall foreign loss amount
### (Repealed) SECTION 770-15 No special rules if convertible foreign losses total less than or equal to $10,000 or choice made
### (Repealed) SECTION 770-20 Starting total for loss parcel
### (Repealed) SECTION 770-25 Tax loss has foreign loss component
### (Repealed) SECTION 770-30 Deduction limit for foreign loss component
### (Repealed) SECTION 770-35 Offset limit to take account of deducted foreign loss component
(Repealed) Subdivision 770-B - Transitional foreign losses (special rules for consolidated groups)
### (Repealed) SECTION 770-80 Transferred losses taken not to be refreshed for purposes of converting overall foreign loss
### (Repealed) SECTION 770-85 Deduction limit not to restrict transfer of losses
### (Repealed) SECTION 770-90 Transfer of losses not restricted where part of trial year occurs before commencement year
### (Repealed) SECTION 770-95 Foreign loss component and starting total retained after transfer to head company
### (Repealed) SECTION 770-100 Limit where foreign loss component utilised by joining entity
### (Repealed) SECTION 770-105 Modified operation of Subdivision 707-C of the 1997 Act for foreign loss component
### (Repealed) SECTION 770-110 Application of Subdivision to MEC groups
(Repealed) Subdivision 770-C - Transitional foreign losses (special rules for CFCs)
### (Repealed) SECTION 770-160 Converting a past CFC loss
### (Repealed) SECTION 770-165 Convertible CFC loss
### (Repealed) SECTION 770-170 Reducing an unutilised CFC loss amount
(Repealed) Subdivision 770-D - Transitional foreign income tax offsets (common rules)
### (Repealed) SECTION 770-220 Converting excess foreign tax credits into pre-commencement excess foreign income tax
### (Repealed) SECTION 770-225 Pre-commencement excess foreign income tax generated for a company by excess foreign tax credits relating to other income
### (Repealed) SECTION 770-230 Increase in the foreign income tax offset
(Repealed) Subdivision 770-E - Transitional foreign income tax offsets (special rules for consolidated groups)
### (Repealed) SECTION 770-285 Objects of this Subdivision
### (Repealed) SECTION 770-290 Transferring subsidiary member's pre-commencement excess foreign income tax to head company
### (Repealed) SECTION 770-295 Where entity not subsidiary member for whole of income year
### (Repealed) SECTION 770-300 Pre-commencement excess foreign income tax lost on joining consolidated group
### (Repealed) SECTION 770-305 Exit history rule does not treat leaving entity as having pre-commencement excess foreign income tax
### (Repealed) SECTION 770-310 Application of Subdivision to MEC groups
Division 815 - Cross-border transfer pricing
Subdivision 815-A - Cross-border transfer pricing
SECTION 815-1 Application of Subdivision 815-A of the Income Tax Assessment Act 1997
SECTION 815-5 Cross-border transfer pricing guidance
SECTION 815-10 Scheme penalty applies in pre-commencement period as if only the old law applied
SECTION 815-15 Application of Subdivisions 815-B, 815-C and 815-D of the Income Tax Assessment Act 1997
Division 820 - Application of the thin capitalisation rules
SECTION 820-10 Application of Division 820 of the Income Tax Assessment Act 1997
SECTION 820-12 Application of Division 974 of the Income Tax Assessment Act 1997 for the purposes of Division 820 of that Act
SECTION 820-45 Transitional provision - accounting standards and prudential standards
Division 830 - Application of the foreign hybrid rules
SECTION 830-1 Standard application
SECTION 830-15 Modified version of income tax law to apply for certain past income years
SECTION 830-20 Modifications of income tax law
Division 832 - Hybrid mismatch rules
Subdivision 832-A - Application of Division 832 of the Income Tax Assessment Act 1997
SECTION 832-10 Application of Division 832 of the Income Tax Assessment Act 1997 (other than imported hybrid mismatch rule)
SECTION 832-15 Application of imported hybrid mismatch rule
Division 840 - Withholding taxes
Subdivision 840-M - Managed investment trust amounts
SECTION 840-805 Managed investment trust amounts
SECTION 840-810 Payment of tax under section 840-805
Subdivision 840-S - Labour mobility program withholding tax
SECTION 840-905 Application of Subdivision 840-S of the Income Tax Assessment Act 1997
Division 842 - Exempt Australian source income and gains of foreign residents
Subdivision 842-I - Investment manager regime
SECTION 842-207 Application of replacement version of Subdivision 842-I
SECTION 842-208 Modified meaning of IMR foreign fund for the purposes of earlier income years
SECTION 842-209 Residence of corporate limited partnerships
SECTION 842-210 Treatment of IMR foreign fund that is a corporate tax entity
SECTION 842-215 Treatment of foreign resident beneficiary that is not a trust or partnership
SECTION 842-220 Treatment of foreign resident partner that is not a trust or partnership
SECTION 842-225 Treatment of trustee of an IMR foreign fund
SECTION 842-230 Pre-2012 IMR deduction
SECTION 842-235 Pre-2012 IMR capital loss
SECTION 842-240 Pre-2012 non-IMR net income , pre-2012 non-IMR Division 6E net income and pre-2012 non-IMR net capital gain
SECTION 842-245 Pre-2012 non-IMR partnership net income and pre-2012 non-IMR partnership loss
Division 880 - Sovereign entities and activities
SECTION 880-1 Application of Division 880 of the Income Tax Assessment Act 1997
SECTION 880-5 Certain income of sovereign entity in respect of a scheme is non-assessable non-exempt income if covered by a private ruling
SECTION 880-10 Certain amounts of sovereign entity in respect of a scheme are not deductible if covered by a private ruling
SECTION 880-15 Sovereign entity ' s capital gain from membership interest etc. - gain disregarded
SECTION 880-20 Sovereign entity ' s capital loss from membership interest etc. - loss disregarded
SECTION 880-25 Asset of sovereign entity - deemed sale and purchase
CHAPTER 5 - ADMINISTRATION
PART 5-35 - MISCELLANEOUS
Division 909 - Regulations
SECTION 909-1 Regulations
CHAPTER 6 - THE DICTIONARY
PART 6-1 - CONCEPTS AND TOPICS
Division 960 - General
Subdivision 960-B - Utilisation of tax attributes
SECTION 960-20 Utilisation - corporate loss carry back
Subdivision 960-E - Entities
SECTION 960-100 Effect of this Subdivision
SECTION 960-105 Entities, and members of entities, benefiting from the application of this Subdivision
SECTION 960-110 No taxation consequences to result from changes to managed investment scheme
SECTION 960-115 Certain entities treated as agents
Subdivision 960-M - Indexation
SECTION 960-262 Application of Subdivision 960-M of the Income Tax Assessment Act 1997
SECTION 960-275 Indexation factor

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