Document ID: chunk:federal_register_of_legislation:C2010C00578:clause:7_1
Version: federal_register_of_legislation:C2010C00578
Segment Type: clause
Provision Reference: sch 7 cl 1
Character Range: 75522–76504

1  Section 165‑13
Repeal the section, substitute:

165‑13  Alternatively, company must carry on same business

 (1) This section sets out the condition that the company must meet to be able to deduct the *tax loss if:
 (a) the company fails to meet a condition in subsection 165‑12(2), (3) or (4); or
 (b) it is not practicable to show that the company meets the conditions in those subsections.

Note: Other provisions may treat the company as meeting, or failing to meet, the conditions in subsections 165‑12(2), (3) and (4).

 (2) The company must satisfy the *same business test for the income year (the same business test period). Apply the test to the *business the company carried on immediately before the time (the test time) shown in the relevant item of the table.

Test time
Item       If:                                                                                                                                                                  The test time is: