Document ID: chunk:federal_register_of_legislation:C2010C00690:clause:1_3:p16
Version: federal_register_of_legislation:C2010C00690
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 16/20)
Character Range: 133597–136363

that was at that time a subsidiary member of that other group interposed between the later transferor and the head company;
  that would affect whether the test company would meet the conditions in section 165‑12 for the income year.

Failing to meet conditions in section 165‑12

 (5) The latest transferee is taken to fail to meet a condition in section 165‑12 only at:
 (a) the first time the test company would have failed to meet the condition had the circumstances described in subsection (4) existed; or
 (b) the test time described in subsection 166‑5(5) for the test company, if Division 166 is relevant to working out whether the test company could have *utilised the loss had the circumstances described in subsection (4) existed.

Same business test applying to latest transferee under Division 166

 (6) If subsection 166‑5(4) affects whether the latest transferee can *utilise the loss for the income year because the latest transferee is a *listed public company or a *100% subsidiary of one for the year, subsection 166‑5(5) operates as if it required the *same business test to be applied to the *business the latest transferee carried on just before the time described in subsection (5) of this section.

If the test company made the loss because of a transfer

 (7) If the test company made the loss because of a transfer under Subdivision 707‑A from another entity, Divisions 165 and 166 operate in relation to the test company for the purposes of subsection (2) as if the test company's *loss year started at the time of the transfer.

Subdivision 707‑C—Amount of transferred losses that can be utilised

Guide to Subdivision 707‑C

707‑300  What this Subdivision is about

      Losses transferred to the head company of a consolidated group under Subdivision 707‑A can be utilised for an income year only against a fraction of the income or gains remaining after the company has utilised other losses and deductions.

Table of sections

Object

707‑305 Object of this Subdivision

How much of a transferred loss can be utilised?

707‑310 How much of a transferred loss can be utilised?
707‑315 What is a bundle of losses?
707‑320 What is the available fraction for a bundle of losses?
707‑325 Modified market value of an entity becoming a member of a consolidated group
707‑330 Losses transferred from former head company
707‑335 Limit on utilising transferred losses if circumstances change during income year
707‑340 Utilising transferred losses while exempt income remains
707‑345 Other provisions are subject to this Subdivision

[This is the end of the Guide.]

Object

707‑305  Object of this Subdivision

 (1) The main object of this Subdivision is to limit, in a way that gives effect to the principles in subsections (2) and