Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 707.400

  (1)   If:

  (a)   the * business continuity test applies to a company that becomes a * head company of a * consolidated group at a time; and

  (b)   apart from this section, the business continuity test period would start before that time and end after it;

the business continuity test period starts at that time (and ends when it would end apart from this section), for the purposes of that application of the business continuity test.

  (2)   Subsection   (1) does not apply for the purposes of working out whether the company can transfer to itself a loss under section   707 - 120.