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INCOME TAX ASSESSMENT ACT 1997 - SECT 415.10

What this Subdivision is about

The unutilised amounts of a designated infrastructure project entity's tax losses are increased each year by the long term bond rate. A designated infrastructure project entity is a fixed trust or company that:

  (a)   carries on an infrastructure project designated under Subdivision   415 - C; and

  (b)   only engages, and has only ever engaged, in activities for the purposes of carrying on that designated infrastructure project.

The tests that apply in relation to tax losses and bad debts if there is a change of ownership of an entity are modified so that periods during which the entity is a designated infrastructure project entity are not tested.

The loss utilisation rules in Subdivision   707 - C do not apply if the head company of a consolidated group is a designated infrastructure project entity after another designated infrastructure project entity joins the group.

  Note:   The transfer rules in subsection   707 - 120(1A) do not apply if a designated infrastructure project entity joins a consolidated group: see subsection   707 - 120(5).

Table of sections

Uplift of tax losses

415 - 15   Uplift of tax losses of designated infrastructure project entities

415 - 20   Designated infrastructure project entity

Change of ownership of trusts and companies

415 - 25   Tax losses of trusts

415 - 30   Bad debts written off etc. by trusts

415 - 35   Tax losses of companies

415 - 40   Bad debts written off by companies

Consolidated groups

415 - 45   Losses transferred to head companies of consolidated groups


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