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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 165.115E

Choice to use global method to work out unrealised net loss

                   A choice under section 165-115E of the Income Tax Assessment Act 1997 to use the global method of working out whether a company has an unrealised net loss at a particular time must be made within 6 months after the day on which the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 received the Royal Assent if:

                     (a)  that time is before that day; and

                     (b)  subsection 165-115E(4) of that Act would otherwise require the choice to be made before the end of those 6 months.

Table of sections

165-115U    Choice to use global method to work out adjusted unrealised loss

165-115ZC  When certain notices to be given

165-115ZD Adjustment (or further adjustment) for interest realised at a loss after global method has been used



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