INCOME TAX ASSESSMENT ACT 1997 - SECT 165.115 What this Subdivision is about

INCOME TAX ASSESSMENT ACT 1997 - SECT 165.115

If a change occurs in the ownership or control of a company that has an unrealised net loss, the company cannot, to the extent of the unrealised net loss, have capital losses taken into account, or deduct revenue losses, in respect of CGT events that happen to CGT assets that it owned at the time of the change, unless it satisfies the business continuity test.