Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p40
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 40/48)
Character Range: 326662–329334

changeover time or alteration time occurred on or after 1 July 2002.
 (2) Division 167 of the Income Tax Assessment Act 1997 also applies:
 (a) to any tax loss of a company:
 (i) that is incurred in an income year commencing on or before 30 June 2002; and
 (ii) that could have been deducted, in accordance with Divisions 165 and 166 of that Act as in force at that time, in the first income year commencing after 30 June 2002 if the deduction had not been limited by the company's income for that income year; and
 (b) to any net capital loss of a company:
 (i) that is made in an income year commencing on or before 30 June 2002; and
 (ii) that could have been applied, in accordance with Divisions 165 and 166 of that Act as in force at that time, in the first income year commencing after 30 June 2002 if the application of the loss had not been limited by the company's capital gains for that income year.

Division 170—Treatment of company groups for income tax purposes

Table of Subdivisions
170‑A Transfer of tax losses within certain wholly‑owned groups of companies
170‑B Transfer of net capital losses within certain wholly‑owned groups of companies
170‑C Provisions applying to both transfers of tax losses and transfers of net capital losses within wholly‑owned groups of companies
170‑D Transfer of life insurance business

Subdivision 170‑A—Transfer of tax losses within certain wholly‑owned groups of companies

Table of sections
170‑45 Special rules affecting utilisation of losses in a bundle do not affect the amount of a tax loss that can be transferred
170‑55 Ordering rule for losses previously transferred under Subdivision 707‑A of the Income Tax Assessment Act 1997

170‑45  Special rules affecting utilisation of losses in a bundle do not affect the amount of a tax loss that can be transferred
  In working out an amount under subsection 170‑45(4) of the Income Tax Assessment Act 1997 (which may limit the amount of a tax loss that can be transferred under Subdivision 170‑A of that Act), disregard these sections of this Act:
 (a) section 707‑325 (which lets the available fraction for a bundle of losses be greater than it would otherwise be);
 (b) section 707‑327 (which effectively lets the available fraction relevant to the utilisation of a loss be chosen in some cases);
 (c) section 707‑350 (which sets the limit on utilising certain losses in a bundle).

170‑55  Ordering rule for losses previously transferred under Subdivision 707‑A of the Income Tax Assessment Act 1997
  If 2 or more losses that a company can transfer for an income year under Subdivision 170‑A of the Income Tax Assessment Act 1997 were previously transferred to