• Specific Year
    Any

INCOME TAX ASSESSMENT ACT 1997 - SECT 165.23 What this Subdivision is about

INCOME TAX ASSESSMENT ACT 1997 - SECT 165.23

What this Subdivision is about

A company that has not had the same ownership and control during the income year, and has not satisfied the business continuity test, works out its taxable income and tax loss under this Subdivision.

Table of sections

165 - 25   Summary of this Subdivision

165 - 30   Flow chart showing the application of this Subdivision

When a company must work out its taxable income and tax loss under this Subdivision

165 - 35   On a change of ownership, unless the company satisfies the business continuity test

165 - 37   Who has more than a 50% stake in the company during a period

165 - 40   On a change of control of the voting power in the company, unless the company satisfies the business continuity test

Working out the company's taxable income

165 - 45   First, divide the income year into periods

165 - 50   Next, calculate the notional loss or notional taxable income for each period

165 - 55   How to attribute deductions to periods

165 - 60   How to attribute assessable income to periods

165 - 65   How to calculate the company's taxable income for the income year

Working out the company's tax loss

165 - 70   How to calculate the company's tax loss for the income year

Special rules that apply if the company is in partnership

165 - 75   How to calculate the company's notional loss or notional taxable income for a period when the company was a partner

165 - 80   How to calculate the company's share of a partnership's notional loss or notional net income for a period if both entities have the same income year

165 - 85   How to calculate the company's share of a partnership's notional loss or notional net income for a period if the entities have different income years

165 - 90   Company's full year deductions include a share of partnership's full year deductions

Download

No downloadable files available