Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 165.255

  (1)   If:

  (a)   this Division or Division   166 requires a company to meet or satisfy a condition or test, or work out an amount, for a period; and

  (b)   the company is only in existence after the beginning of the period;

then the period is taken to start on the first day that the company is in existence.

  (2)   If:

  (a)   this Division or Division   166 requires a company to meet or satisfy a condition or test, or work out an amount, for a period; and

  (b)   the company ceases to be in existence before the end of the period;

then the period is taken to end on the day the company ceases to be in existence.

Table of Subdivisions

  Guide to Division   166

166 - AA   The object of this Division

166 - A   Deducting tax losses of earlier income years

166 - B   Working out the taxable income, tax loss, net capital gain and net capital loss for the income year of the change

166 - C   Deducting bad debts

166 - CA   Changeover times and alteration times

166 - D   Tests for finding out whether the widely held or eligible Division   166 company has maintained the same owners

166 - E   Concessional tracing rules