Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p8
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 8/10)
Character Range: 795949–799133

of pooled development funds (PDFs)

Item  For the special rules about this situation ...                                                                                 See:
1.    A company is a pooled development fund (PDF) at the end of an income year for which it has a tax loss: it can only:            Sections 195‑5 and 195‑37
      (a) deduct the loss while it is a PDF; or
      (b) carry back the loss to an income year in which it was a PDF.
2.    A company becomes a PDF during an income year: special rules affect how it works out a tax loss and how the loss is utilised.  Section 195‑15

Tax losses of VCLPs, ESVCLPs, AFOFs and VCMPs

Item  For the special rules about this situation ...                                                       See:
1.    A limited partnership that has a tax loss becomes a VCLP, an ESVCLP, an AFOF or a VCMP: it cannot:   Subdivision 195‑B
      (a) deduct the loss while it is a VCLP, an ESVCLP, an AFOF or a VCMP; or
      (b) carry back the loss to an income year in which it was not a VCLP, an ESVCLP, an AFOF or a VCMP.

Tax losses of entities that become foreign hybrids

Item  For the special rules about this situation...                                                                    See:
1.    An entity that has a tax loss becomes a foreign hybrid: it cannot deduct the loss while it is a foreign hybrid.  Section 830‑115

Tax losses of trusts

Item  For the special rules about this subsection...                                                                                                                                                      See:
1.    A trust has had a change of ownership or control or there has been an abnormal trading in its units:                                                                                                Divisions 266, 267 and 268 in Schedule 2F to the Income Tax Assessment Act 1936
      • if this happens in the income year, it works out its net income and tax loss in a special way; or
      • if this happens at any time from the start of a loss year until the end of the income year, it cannot deduct a tax loss from the loss year.
      This will not be the case if the trust is an excepted trust. However, if it became one by making a family trust election, a special tax may be payable on certain distributions and other amounts.
2.    A trust is involved in a scheme to take advantage of deductions. The trust may be prevented from making full use of them.                                                                           Division 270 in Schedule 2F to the Income Tax Assessment Act 1936
3.    A trust is a designated infrastructure project entity.                                                                                                                                              Subdivision 415‑B

Tax losses of greenfields minerals explorers

Item  For the special rules about this situation...                 See:
1.    A greenfields minerals explorer creates exploration credits.  Section 418‑95

Subdivision 36‑B—Effect of you becoming bankrupt

Guide to Subdivision 36‑B

36‑30  What this Subdivision is about

      After you become