Commonwealth Consolidated Acts Commonwealth Consolidated ActsDespite a subsection listed in column 1, the Commissioner may, under a subsection listed in column 2, disallow some or all of an * excluded loss, deduction, or * capital loss, of a company (as the case requires) if:
(a) the company is or becomes:
(i) a Chapter 5 body corporate within the meaning of the Corporations Act 2001 ; or
(ii) an entity with a similar status under a * foreign law to a Chapter 5 body corporate; and
(b) the company is insolvent (within the meaning of section 9 of the Corporations Act 2001 ) when the company becomes an entity mentioned in subparagraph (a)(i) or (ii).
Commissioner may disallow excluded losses etc. for insolvent companies | ||
Item | Column 1 Despite this subsection... | Column 2 the Commissioner may disallow under this subsection: |
1 | Subsection 175 - 10(2) | Subsection 175 - 10(1) |
2 | Subsection 175 - 15(2) | Subsection 175 - 15(1) |
3 | Subsection 175 - 20(2) | Subsection 175 - 20(1) |
4 | Subsection 175 - 25(2) | Subsection 175 - 25(1) |
5 | Subsection 175 - 30(4) | Subsection 175 - 30(1) or (2) |
6 | Subsection 175 - 45(2) | Subsection 175 - 45(1) |
7 | Subsection 175 - 50(2) | Subsection 175 - 50(1) |
8 | Subsection 175 - 60(2) | Subsection 175 - 60(1) |
9 | Subsection 175 - 65(2) | Subsection 175 - 65(1) |
10 | Subsection 175 - 70(4) | Subsection 175 - 70(1) or (2) |
11 | Subsection 175 - 85(2) | Subsection 175 - 85(1) |
11 | Subsection 175 - 90(2) | Subsection 175 - 90(1) |
Guide to Division 180
180 - A Information relevant to Division 165
180 - B Information relevant to Division 175