Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 160.30

Transferred tax losses, income tax liabilities etc. not included

  (1)   The entity cannot * carry back an amount of a * tax loss for an income year, to the extent that the loss:

  (a)   was transferred to or from the entity under Division   170 or Subdivision   707 - A (about certain company groups); or

  (b)   exceeds the amount that would be the entity's tax loss for the year if section   36 - 55 (about excess franking offsets) were disregarded.

  (2)   For the purposes of this Division, disregard the * income tax liability of the entity for an income year to the extent that it consists of an income tax liability of a * subsidiary member of a * consolidated group or * MEC group that is taken to be an income tax liability of the entity because of section   701 - 5 (the entry history rule).


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