Tax Laws Amendment (2005 Measures No. 5) Act 2005 (162 of 2005)
Schedule 3 Consolidation
Part 1 Bad debts
Division 2 Deducting debt/equity swap loss
Income Tax Assessment Act 1997
2 At the end of subsection 709-205(1)
Add:
Note: This Subdivision affects similarly whether an entity that is or has been a member of a consolidated group and extinguishes a debt as part of a debt/equity swap may deduct a loss resulting from the swap. See section 709-220.
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