Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 707.110

Objects of this Subdivision

                   The main objects of this Subdivision are:

                     (a)  to provide for the transfer of a loss from an entity (the joining entity ) becoming a * member of a * consolidated group to the * head company of the group (so the head company may be able to * utilise it), if the joining entity could have utilised the loss if it had not become a member of the group; and

                     (b)  to prevent the utilisation by any entity of a loss made by the joining entity, if the joining entity could not have utilised the loss if it had not become a member of the group.

Application



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