Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 709.200

What this Subdivision is about

An entity can deduct a bad debt that:

               (a)     has for a period been owed to a member of a consolidated group; and

              (b)     has for another period been owed to an entity that was not a member of that group;

only if each entity that has been owed the debt for such a period could have deducted the debt had it been written off as bad at the end of the period. This applies even if the debt is owed to the same entity for different periods.

Table of sections

Application and object

709-205    Application of this Subdivision

709-210    Object of this Subdivision

Limit on deduction of bad debt

709-215    Limit on deduction of bad debt

Extension of Subdivision to debt/equity swap loss

709-220    Limit on deduction of swap loss

Application and object



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