Document ID: chunk:federal_register_of_legislation:C2010C00622:clause:10_37:p5
Version: federal_register_of_legislation:C2010C00622
Segment Type: clause
Provision Reference: sch 10 cl 37 (pt 5/7)
Character Range: 122676–125533

section are met.

Tax detriment under Division 165

 (2) In its return of income for the income year:
 (a) the company must have deducted a *tax loss from a *loss year where it would not be allowed to deduct the tax loss unless it met the conditions in section 165‑215; or
 (b) the company must not have calculated:
 (i) its taxable income and tax loss for the income year under Subdivision 165‑B; and
 (ii) its *net capital gain and *net capital loss for the income year under Subdivision 165‑CB;
  where it would have been required to calculate them unless it met the conditions in section 165‑220; or
 (c) the company must have applied a net capital loss for an earlier income year in working out its net capital gain or net capital loss where it would not have been allowed to apply the loss unless it met the conditions in section 165‑215 as applied on the assumption mentioned in subsection 165‑96(1); or
 (d) the company must have deducted a debt that it wrote off as bad in the income year where it would not be allowed to deduct the debt unless it met the conditions in section 165‑230.

Information about non‑fixed trust

 (3) In order to determine whether it meets the conditions concerned, the Commissioner must need information about a non‑fixed trust mentioned in:
 (a) if paragraph (2)(a) applies—subsection 165‑215(5); or
 (b) if paragraph (2)(b) applies—subsection 165‑220(5); or
 (c) if paragraph (2)(c) applies—subsection 165‑215(5) as applied on the assumption mentioned in subsection 165‑96(1); or
 (d) if paragraph (2)(d) applies—subsection 165‑230(5).

Non‑resident trust

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

165‑240  Notices where requirements of section 165‑235 are met

Information required

 (1) The notice that the Commissioner may give if the requirements of subsections 165‑235(2) to (5) are met must require the company to give the Commissioner specified information that is relevant in determining whether:
 (a) if paragraph 165‑235(2)(a) applies—the requirements of subsection 165‑215(5); or
 (b) if paragraph 165‑235(2)(b) applies—the requirements of subsection 165‑220(5); or
 (c) if paragraph 165‑235(2)(c) applies—the requirements of subsection 165‑215(5) as applied on the assumption mentioned in subsection 165‑96(1); or
 (d) if paragraph 165‑235(2)(d) applies—the requirements of subsection 165‑230(5);
are satisfied in relation to the non‑fixed