Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p43
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 43/48)
Character Range: 334117–337117

Income Tax Assessment Act 1997
  Subdivision 175‑CA of the Income Tax Assessment Act 1997 (about companies obtaining tax benefits from unused net capital losses of earlier income years) applies to assessments for the 1998‑99 income year and later income years.

Subdivision 175‑CB—Tax benefits from unused capital losses of the current year

Table of sections
175‑55 Application of Subdivision 175‑CB of the Income Tax Assessment Act 1997

175‑55  Application of Subdivision 175‑CB of the Income Tax Assessment Act 1997
  Subdivision 175‑CB of the Income Tax Assessment Act 1997 (about companies obtaining tax benefits from unused capital losses of the current income year) applies to assessments for the 1998‑99 income year and later income years.

Subdivision 175‑C—Tax benefits from unused bad debt deductions

Table of sections
175‑78 Application of Subdivision 175‑C of the Income Tax Assessment Act 1997

175‑78  Application of Subdivision 175‑C of the Income Tax Assessment Act 1997
  Subdivision 175‑C of the Income Tax Assessment Act 1997 (about companies obtaining tax benefits from unused bad debt deductions) applies to assessments for the 1998‑99 income year and later income years.

Division 197—Tainted share capital accounts

Table of Subdivisions
197‑A Definitions
197‑B General application provision
197‑C Special provisions about companies whose share capital accounts were tainted when old Division 7B was closed off

Subdivision 197‑A—Definitions

Table of sections
197‑1 Definitions

197‑1  Definitions
  In this Part:
introduction day means the day on which the Bill for the Act that added this Division was introduced into the Parliament.
new Division 197 means Division 197 of the Income Tax Assessment Act 1997.
old Division 7B means Division 7B of Part IIIAA of the Income Tax Assessment Act 1936.
old Division 7B close‑off day means 1 July 2002.

Subdivision 197‑B—General application provision

Table of sections
197‑5 Application of new Division 197

197‑5  Application of new Division 197
  Subject to Subdivision 197‑C of this Division, new Division 197 applies to transfers made into a company's share capital account after the introduction day.

Subdivision 197‑C—Special provisions about companies whose share capital accounts were tainted when old Division 7B was closed off

Table of sections
197‑10 Subdivision applies to companies whose share capital accounts were tainted when old Division 7B was closed off
197‑15 Account taken to have ceased to be tainted when old Division 7B was closed off
197‑20 After introduction day, account taken to have become tainted under new Division 197 to extent of previous tainting
197‑25 Special provisions if company chooses to untaint after introduction day

197‑10  Subdivision applies to companies whose share capital accounts were tainted when old Division 7B was closed off
  This Subdivision applies to a company if, immediately before the old Division 7B close‑off day, the company's share capital account was tainted