Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 165.93

What this Subdivision is about

In working out its net capital gain for an income year, a company cannot apply a net capital loss for an earlier income year unless:

       (a)     it has the same owners and the same control 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).

Table of sections

Operative provisions

165-96      When a company cannot apply a net capital loss

Operative provisions



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