Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

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


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback