New Business Tax System (Consolidation) Act (No. 1) 2002 (68 of 2002)

Schedule 3   Consequential amendments relating to main consolidation provisions

Part 3   Limiting access to group concessions

Division 2   Loss transfers

Income Tax Assessment Act 1997

37   Basic rule about application of amendments of Division 170

 

(1) The amendments of Division 170 of the Income Tax Assessment Act 1997 made by this Schedule apply in relation to a company for each of its:

(a) income years starting after 30 June 2003; and

(b) non-membership periods (if any) under section 701-30 of the Income Tax Assessment Act 1997 starting after 30 June 2003.

      

(2) This item does not apply in relation to a company to which item 38 applies.