Document ID: chunk:federal_register_of_legislation:C2005A00147:clause:1_7
Version: federal_register_of_legislation:C2005A00147
Segment Type: clause
Provision Reference: sch 1 cl 7
Character Range: 9177–9831

7  Section 36‑25 (table item 2 in the table headed "Tax losses of companies")
Repeal the table item, substitute:

2.  A company wants to deduct a tax loss. It cannot do so unless:                                                                                                                 Subdivision 165‑A
    • the same people owned the company during the loss year, the income year and any intervening year; and
    • no person controlled the company's voting power at any time during the income year who did not also control it during the whole of the loss year and any intervening year;
    or the company has satisfied the same business test.