Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 715.165

When pool ceases to exist

             (1)  A * loss denial pool of a company ceases to exist when there is a * changeover time for the company.

Note:          The CGT assets in the pool then become subject to the application of Subdivision 165-CC (about change of ownership or control of a company that has an unrealised net loss).

             (2)  A * loss denial pool of any entity ceases to exist:

                     (a)  when there are no * CGT assets, and no * 170-D deferred losses, in the pool; or

                     (b)  just after the * loss denial balance becomes nil; or

                     (c)  when the entity becomes a * subsidiary member of a * consolidated group; or

                     (d)  as mentioned in subsection 715-135(4).

Choices under this Subdivision



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