INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 165.10 Operative provisions To deduct a tax loss

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INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 165.10

Operative provisions To deduct a tax loss

A company cannot deduct a *tax loss unless either:

   (a)  it meets the conditions in section 165- 12 (which is about the company
        maintaining the same owners); or

   (b)  it meets the conditions in section 165- 13 (which is about the company
        carrying on the same business). Note: In the case of a listed public
        company or its 100% subsidiary, Subdivision 166-A modifies how this
        Subdivision applies, unless the company chooses otherwise.

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