Document ID: chunk:federal_register_of_legislation:C2010C00622:clause:10_15:p5
Version: federal_register_of_legislation:C2010C00622
Segment Type: clause
Provision Reference: sch 10 cl 15 (pt 5/5)
Character Range: 82763–84259

was incurred in the income year mentioned in that paragraph—that income year; or
 (e) if the debt mentioned in paragraph 180‑15(2)(e) was incurred in an earlier income year than the one mentioned in that paragraph—the day on which the debt was incurred.

Company knowledge

 (2) The information need not be within the knowledge of the company at the time the notice is given.

Period for giving information

 (3) The notice must specify a period within which the company is to give the information. The period must not end earlier than 21 days after the day on which the Commissioner gives the notice.

Consequence of not giving the information

 (4) If the company does not give the information within the period or within such further period as the Commissioner allows:
 (a) subsection 175‑10(2), 175‑15(2), 175‑20(2), 175‑25(2), 175‑30(4), 175‑85(2) or 175‑90(2) does not prevent the Commissioner from disallowing the deduction; or
 (b) subsection 175‑45(2) or 175‑50(2) does not prevent the Commissioner from *disallowing the *net capital loss; or
 (c) subsection 175‑60(2), 175‑65(2) or 175‑70(4) does not prevent the Commissioner from *disallowing the *capital loss;
as the case requires.

No offences or penalties

 (5) To avoid doubt, subsection (4) does not cause the company to commit any offence or be liable to any penalty under Part VII of the Income Tax Assessment Act 1936 for claiming the deduction, or applying the *net capital loss or *capital loss, in the company's return.