Document ID: chunk:federal_register_of_legislation:C2015A00130:clause:4_58
Version: federal_register_of_legislation:C2015A00130
Segment Type: clause
Provision Reference: sch 4 cl 58
Character Range: 76945–77802

58  Transitional—FHSA trusts
(1) An FHSA trust (within the meaning of the Income Tax Assessment Act 1997 on 1 January 2015) is taken to be one of the kinds of entities listed in the paragraphs of subsection 165‑202(1) of that Act.
(2) Subitem (1) applies in relation to:
 (a) deducting a tax loss in an applicable income year; or
 (b) applying a net capital loss in an applicable income year; or
 (c) a deduction in respect of a bad debt claimed in an applicable income year; or
 (d) determining whether any changeover time or alteration time occurred during an applicable income year.
(3) In this item:
applicable income year means the 2011‑12 income year, the 2012‑13 income year, the 2013‑14 income year or the 2014‑15 income year.

[Minister's second reading speech made in—
House of Representatives on 24 June 2015
Senate on 19 August 2015]

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