Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p42
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 42/48)
Character Range: 331687–334377

base and reduced cost base of a share or in the reduced cost base of a debt that has been made or is required to be made under former subsection 160ZP(13) of the Income Tax Assessment Act 1936 (as that subsection applied from time to time) is taken to have been made or to be required to be made under section 170‑220 of the Income Tax Assessment Act 1997.

170‑225  Direct and indirect interests in the gain company
  Any increase in the cost base and reduced cost base of a share or debt that has been made or is authorised to be made under former subsections 160ZP(14) and (15) of the Income Tax Assessment Act 1936 (as those subsections applied from time to time) is taken to have been made or to be authorised to be made under section 170‑225 of the Income Tax Assessment Act 1997.

Subdivision 170‑D—Transfer of life insurance business

Table of sections
170‑300 Transfer of life insurance business

170‑300  Transfer of life insurance business
  If:
 (a) all or part of the life insurance business of a life insurance company (the originating company) is transferred to another life insurance company (the recipient company):
 (i) in accordance with a scheme confirmed by the Federal Court of Australia under Part 9 of the Life Insurance Act 1995; or
 (ii) under the Financial Sector (Transfers of Business) Act 1999; and
 (b) the originating company makes a capital loss from a CGT asset as a result of the transfer; and
 (c) that capital loss is disregarded because of Subdivision 126‑B of this Act;
Subdivision 170‑C of the Income Tax Assessment Act 1997 has effect as if:
 (d) that capital loss were a net capital loss transferred by the originating company to the recipient company by an agreement under section 170‑150 of that Act; and
 (e) the application year referred to in section 170‑225 of that Act were the year in which the transfer of life insurance business took place.

Division 175—Use of a company's losses, deductions or bad debts to avoid income tax

Table of Subdivisions
175‑CA Tax benefits from unused net capital losses of earlier income years
175‑CB Tax benefits from unused capital losses of the current year
175‑C Tax benefits from unused bad debt deductions

Subdivision 175‑CA—Tax benefits from unused net capital losses of earlier income years

Table of sections
175‑40 Application of Subdivision 175‑CA of the Income Tax Assessment Act 1997

175‑40  Application of Subdivision 175‑CA of the Income Tax Assessment Act 1997
  Subdivision 175‑CA of the Income Tax Assessment Act 1997 (about companies obtaining tax benefits from unused net capital losses of earlier income years) applies to assessments for the 1998‑99 income year and later income years.