Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:13_1:p7
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 13 cl 1 (pt 7/10)
Character Range: 240186–243316

test company as the test company for the first company for which the test company was the test company for the loss

Note: Subsection (4) applies if the focal company made the loss because of a COT transfer of the loss to the focal company from another company.

 (5) Disregard section 719‑90 for the purposes of items 1 and 2 of the table in subsection (4) of this section if the test company was identified using subsection 719‑265(6).

Note: This ensures that section 719‑90 does not make those items inapplicable by treating the test company as if another company had made the loss instead of the test company.

Other events do not override assumption

 (6) If the test company transferred the loss to itself or another company under Subdivision 707‑A, assume that the transfer did not affect, for income years ending after the transfer:
 (a) the fact that the test company made the loss; or
 (b) the income year for which the test company is assumed (under subsection (1), (2) or (4)) to have made the loss.

719‑275  Assumptions about nothing happening to affect direct and indirect ownership of the test company

 (1) This section sets out an assumption that must be made whenever an event described in subsection (2) occurs:
 (a) after the time assumed under section 719‑270 to be the start of the income year for which the test company made the loss; and
 (b) before the end of the claim year;
(whether or not the test company or the focal company is one of the companies mentioned in the description of the event).

 (2) Assume that, after an event described in an item of the table, nothing happens in relation to *membership interests or voting power in an entity described in the item that would affect whether the test company would meet the conditions in section 165‑12 for the claim year and the loss.

Assumption about nothing happening to membership interests or voting power
                                                                            If this event occurs:                                                                                                                                                                                                                         Assume that nothing happens in relation to membership interests or voting power in:
  1                                                                         There is a *COT transfer of the loss to the *head company of a *MEC group (but not from a company that was the head company of another MEC group just before the transfer)                                                                    The transferor or an entity that was at the time of the transfer interposed between the transferor and the *top company for the MEC group
  2                                                                         There is a *COT transfer of the loss to the *head company of a *MEC group from a company that was the head company of another MEC group just before the transfer                                                                              The company that was just before the transfer the *top company for the