Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:13_1:p6
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 13 cl 1 (pt 6/10)
Character Range: 236757–240399

If the test company is:
 (a) the focal company; or
 (b) the first head company identified in subsection 719‑265(6) by reference to the focal company;
assume that the test company made the loss for an income year starting at the relevant time shown in the table.

Start of income year for which test company is assumed to have made loss
                                                                          If:                                                                                                                                                                                                                        The relevant time is:
  1                                                                       The test company made the loss apart from Subdivision 707‑A (even if the test company later transferred the loss to itself in a *COT transfer)                                                                             The start of the income year for which the test company made the loss
  2                                                                       The test company made the loss because it was transferred to the test company under Subdivision 707‑A in a transfer other than a *COT transfer (even if the test company first made the loss apart from that Subdivision)  The time of the transfer

 (3) If the test company is the first head company, disregard section 719‑90 for the purposes of working out the relevant time using the table in subsection (2) of this section.

Note: This ensures that section 719‑90 does not make the items in the table inapplicable by treating the test company as if another company had made the loss instead of the test company.

If subsections (1) and (2) do not apply

 (4) If neither subsection (1) nor subsection (2) applies, assume that the test company made the loss for an income year starting at the relevant time shown in the table.

Start of income year for which test company is assumed to have made loss
                                                                          If:                                                                                                                                                                                                                                              The relevant time is:
  1                                                                       The test company made the loss apart from Subdivision 707‑A (even if the test company later transferred the loss to itself in a *COT transfer)                                                                                                   The start of the income year for which the test company made the loss
  2                                                                       The test company made the loss because it was transferred to the test company under Subdivision 707‑A in a transfer other than a *COT transfer (even if the test company first made the loss apart from that Subdivision)                        The time of the transfer
  3                                                                       The test company is the test company for the focal company for the loss because the test company was the *top company for a *MEC group whose *head company made the loss before it was transferred to the focal company under Subdivision 707‑A  The time that was the relevant time under subsection (1) for the test company as the test company for the first company for which the test company was the test company for the loss

Note: Subsection (4) applies if the focal company made the loss because of a COT transfer of the