Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 707.145

Cancelling the transfer of the loss

  (1)   The * head company of the joined group may choose to cancel the transfer of the loss.

  (2)   If the * head company of the joined group does so, this Act (except this section) operates for all income years ending after the transfer as if it had not occurred under section   707 - 120.

  (3)   The choice cannot be revoked.


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