Document ID: chunk:federal_register_of_legislation:C2010C00622:clause:10_15:p4
Version: federal_register_of_legislation:C2010C00622
Segment Type: clause
Provision Reference: sch 10 cl 15 (pt 4/5)
Character Range: 80267–83002

income year, the whole or part of a *tax loss from a *loss year; or
 (b) must have been prevented by subsection 175‑20(2), 175‑25(2) or 175‑30(4) from disallowing the whole or part of a deduction for an income year; or
 (c) must have been prevented by subsection 175‑45(2) or 175‑50(2) from disallowing, in working out the *net capital gain or *net capital loss for an income year, the whole or part of a *net capital loss for an earlier income year (or a part of one); or
 (d) must have been prevented by subsection 175‑60(2), 175‑65(2) or 175‑70(4) from disallowing, in working out its net capital gain or net capital loss for an income year, the whole or part of a *capital loss made during the income year; or
 (e) must have been prevented by subsection 175‑85(2) or 175‑90(2) from disallowing, as a deduction for an income year, the whole or part of a debt.

Role of family trust

 (3) A *family trust must have been:
 (a) one of the *continuing shareholders mentioned in subsection 175‑10(2), 175‑20(2), 175‑25(2), 175‑45(2), 175‑60(2), 175‑65(2) or 175‑85(2); or
 (b) the person who had the *shareholding interest mentioned in subsection 175‑15(2), 175‑30(4), 175‑50(2), 175‑70(4) or 175‑90(2);
as the case requires.

Non‑resident trust

 (4) When the Commissioner gives the notice:
 (a) a trustee of the *family trust must be a non‑resident; or
 (b) the central management and control of the *family trust must be outside Australia.

When notice must be given

 (5) The Commissioner must give the notice before the later of:
 (a) 5 years after the income year mentioned in subsection (2); and
 (b) the end of the period during which the company is required by section 262A of the Income Tax Assessment Act 1936 to retain records in relation to that income year.

180‑20  Notice where requirements of section 180‑15 are met

Information required

 (1) The notice that the Commissioner may give if the requirements of section 180‑15 are met must require the company to give the Commissioner specified information about conferrals of present entitlements to, and distributions (within the meaning of Subdivision 272‑B of Schedule 2F to the Income Tax Assessment Act 1936) of, income and capital by the *family trust since the start of:
 (a) the *loss year mentioned in paragraph 180‑15(2)(a); or
 (b) the income year mentioned in paragraph 180‑15(2)(b) or (d); or
 (c) the earlier income year mentioned in paragraph 180‑15(2)(c); or
 (d) if the debt mentioned in paragraph 180‑15(2)(e) was incurred in the income year mentioned in that paragraph—that income year; or
 (e) if the debt mentioned in paragraph 180‑15(2)(e) was incurred in an earlier income year than the one mentioned in that paragraph—the day on which the debt