Commonwealth Consolidated Acts Commonwealth Consolidated ActsA company that has not had the same ownership and control during the income year, and has not satisfied the business continuity test, works out its taxable income and tax loss under this Subdivision.
Table of sections
165 - 25 Summary of this Subdivision
165 - 30 Flow chart showing the application of this Subdivision
When a company must work out its taxable income and tax loss under this Subdivision
165 - 35 On a change of ownership, unless the company satisfies the business continuity test
165 - 37 Who has more than a 50% stake in the company during a period
165 - 40 On a change of control of the voting power in the company, unless the company satisfies the business continuity test
Working out the company's taxable income
165 - 45 First, divide the income year into periods
165 - 50 Next, calculate the notional loss or notional taxable income for each period
165 - 55 How to attribute deductions to periods
165 - 60 How to attribute assessable income to periods
165 - 65 How to calculate the company's taxable income for the income year
Working out the company's tax loss
165 - 70 How to calculate the company's tax loss for the income year
Special rules that apply if the company is in partnership
165 - 75 How to calculate the company's notional loss or notional taxable income for a period when the company was a partner
165 - 80 How to calculate the company's share of a partnership's notional loss or notional net income for a period if both entities have the same income year
165 - 85 How to calculate the company's share of a partnership's notional loss or notional net income for a period if the entities have different income years
165 - 90 Company's full year deductions include a share of partnership's full year deductions