Document ID: chunk:federal_register_of_legislation:C2005A00147:clause:1_138
Version: federal_register_of_legislation:C2005A00147
Segment Type: clause
Provision Reference: sch 1 cl 138
Character Range: 108450–109215

138  Subsection 719‑260(3)
Repeal the subsection, substitute:

Same business test for focal company under Division 166

 (3) If subsection 166‑5(5) affects whether the focal company can *utilise the loss for the claim year because the focal company is a *widely held company or an *eligible Division 166 company, or both, during the year, subsection 166‑5(6) operates as if it required the *same business test to be applied to the *business the focal company carried on just before the time described in subsection (2) of this section.

Note: Companies whose total income for an income year is more than $100 million cannot satisfy the same business test for the same business test period (even if the company carries on the same business): see section 165‑212A.