Commonwealth Consolidated Acts Commonwealth Consolidated ActsA company cannot deduct a tax loss unless:
(a) it has the same owners and the same control throughout the period from the start of the loss year to the end of the income year; or
(b) it satisfies the business continuity test by carrying on the same business (including entering into no new kinds of transactions and conducting no new kinds of business), or by carrying on a similar business (on or after 1 July 2015).
Note: The exceptions mentioned in this section apply differently in relation to designated infrastructure project entities: see section 415 - 35.
Table of sections
Operative provisions
165 - 10 To deduct a tax loss
165 - 12 Company must maintain the same owners
165 - 13 Alternatively, the company must satisfy the business continuity test
165 - 15 The same people must control the voting power, or the company must satisfy the business continuity test
165 - 20 When company can deduct part of a tax loss