Document ID: chunk:federal_register_of_legislation:C2005A00147:clause:1_79:p6
Version: federal_register_of_legislation:C2005A00147
Segment Type: clause
Provision Reference: sch 1 cl 79 (pt 6/25)
Character Range: 46881–49564

the start of the *test period and:
 (a) the end of each income year in that period; and
 (b) the *end of each *corporate change in that period.

Note: See sections 166‑145 and 166‑175 to work out whether there is substantial continuity of ownership and a corporate change.

No substantial continuity of ownership

 (4) The company is taken to have failed to meet the conditions in section 165‑123 if there is no *substantial continuity of ownership of the company as between the start of the *test period and:
 (a) the end of an income year in that period; or
 (b) the *end of a *corporate change in that period.

Satisfies the same business test

 (5) However, if the company satisfies the *same business test for the *second continuity period (the same business test period), it is taken to have satisfied the condition in section 165‑126.

Note 1: For the same business test, see Subdivision 165‑E.

Note 2: Companies whose total income for the income year is more than $100 million cannot satisfy the same business test for the second continuity period: see section 165‑212A.

Note 3: See section 165‑255 for the rule about incomplete test periods.

 (6) Apply the *same business test to the *business that the company carried on immediately before the earlier of the following times (the test time):
 (a) the end of the first income year;
 (b) the first time in the test period that a *corporate change in the company *ends;
for which there is no *substantial continuity of ownership of the company as between the start of the *test period and that time.

166‑50  Companies can choose that this Subdivision is not to apply to them

 (1) The company can choose that Subdivision 165‑C is to apply to it for the income year without the modifications made by this Subdivision.

 (2) The company must choose on or before the day it lodges its *income tax return for the income year, or before a later day if the Commissioner allows.

Subdivision 166‑CA—Changeover times and alteration times

Table of sections

166‑80 How Subdivision 165‑CC or 165‑CD applies to a widely held or eligible Division 166 company
166‑90 Companies can choose that this Subdivision is not to apply to them

166‑80  How Subdivision 165‑CC or 165‑CD applies to a widely held or eligible Division 166 company

 (1) This Subdivision modifies the way in which:
 (a) Subdivision 165‑CC applies in determining whether a changeover time (within the meaning of section 165‑115C) has occurred; or
 (b) Subdivision 165‑CD applies in determining whether an alteration time (within the meaning of section 165‑115L) has occurred;
in relation to a company that is:
 (c) a *widely held company at all times during the