Document ID: chunk:federal_register_of_legislation:C2015C00124:clause:2_4:p6
Version: federal_register_of_legislation:C2015C00124
Segment Type: clause
Provision Reference: sch 2 cl 4 (pt 6/13)
Character Range: 55162–57963

the income year referred to in that subsection as the income year.
 (3) In a case to which paragraph (2)(b) applies, the company is treated as meeting the conditions in section 165‑12.
 (4) Despite subsection 165‑13(2), 166‑5(5), 165‑15(2) or 166‑20(4), the *same business test period under that subsection starts at the start of the *ownership test period or *test period (whichever is applicable) if, apart from this subsection, the same business test period would start earlier.
 (5) Despite subsection 165‑13(2), 165‑15(3), 166‑5(6) or 166‑20(4), the *test time under that subsection occurs just after the start of the *ownership test period or *test period (whichever is applicable) if, apart from this subsection, the test time would occur earlier.
 (6) A reference in subsection 165‑15(1) to the *loss year is treated as being a reference to the period:
 (a) starting at the start of the *ownership test period; and
 (b) ending at the end of the income year in which the ownership test period starts.
 (7) For the purposes of working out, under paragraph 165‑45(3)(a) or (b) or subsection 165‑45(4), the end of the first period, disregard any part of the income year mentioned in section 165‑45 during which the company is a *designated infrastructure project entity.
Note:  A company does not calculate its taxable income and tax loss under Subdivision 165‑B if the company was a designated infrastructure project entity during the whole of the income year: see paragraph 165‑35(c).

Exceptions
 (8) Disregard this section for the purposes of Subdivisions 165‑CA and 165‑CB (about net capital losses) and 175‑A and 175‑CA (about tax benefits).

415‑40  Bad debts written off by companies

Scope
 (1) This section applies to a debt that a company writes off as bad, if the company is a *designated infrastructure project entity at a time (the status time) in the income year in which the debt was incurred.

Modifications of Divisions 165 and 166
 (2) Despite subsection 165‑123(1) or 166‑40(2), the *ownership test period or *test period under that subsection starts at the earlier of:
 (a) the first time that occurs after the status time and on or after:
 (i) in the case of subsection 165‑123(1)—the start of the *first continuity period; or
 (ii) in the case of subsection 166‑40(2)—the time the company chooses under that subsection;
  and at which the company is not a *designated infrastructure project entity; and
 (b) the end of the *second continuity period.
 (3) In a case to which paragraph (2)(b) applies, the company is treated as meeting the conditions in section 165‑123.
 (4) Despite subsection 165‑126(2), 165‑129(2), 165‑132(1) or 166‑40(5), the *same business test period under that subsection starts at the start of the *ownership test period or *test period (whichever is