Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)
Schedule 6 Loss carry back consequential amendments
Part 1 Concepts and definitions
Income Tax Assessment Act 1997
24 Subsection 170-45(1)
Repeal the subsection, substitute:
Loss company can only transfer what it cannot use itself
(1) The amount transferred cannot exceed what would be the amount of the *loss company's *unutilised *tax loss at the end of the *deduction year if the loss company utilised the tax loss to the greatest extent possible.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
