Document ID: chunk:federal_register_of_legislation:C2010C00690:clause:4_12
Version: federal_register_of_legislation:C2010C00690
Segment Type: clause
Provision Reference: sch 4 cl 12
Character Range: 315526–316149

12  After subsection 45‑330(2) in Schedule 1
Insert:

Special rule for an entity that is, or has been, the head company of a consolidated group

 (2A) If an entity has *tax losses transferred to it under Subdivision 707‑A of the Income Tax Assessment Act 1997, the adjusted taxable income of the entity is worked out under subsection (1) as if paragraph (1)(c) were replaced by the following provision:
 (c) the lesser of the following amounts:
 (i) the amount of any tax loss, to the extent that you can carry it forward to the next income year;
 (ii) the amount of any tax loss that you have deducted in the base year.