Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 165.255

Incomplete periods

             (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

Guide to Division 166



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