Commonwealth Consolidated Acts Commonwealth Consolidated ActsA loss made by an entity before the time it becomes a member of a consolidated group is transferred to the head company of the group at that time if the entity could have utilised the loss had the entity not become a member of the group.
Table of sections
707 - 105 Who can utilise the loss?
Objects
707 - 110 Objects of this Subdivision
Application
707 - 115 What losses this Subdivision applies to
Transfer of loss from joining entity to head company
707 - 120 Transfer of loss from joining entity to head company
707 - 125 Modified business continuity test for companies' post - 1999 losses
707 - 130 Modified pattern of distributions test
707 - 135 Transferring loss transferred to joining entity because business continuity test was satisfied
Effect of transfer of loss
707 - 140 Effect of transfer of loss
Cancelling the transfer of the loss
707 - 145 Cancelling the transfer of the loss
What happens if the loss is not transferred?
707 - 150 Loss cannot be utilised for income year ending after the joining time