Commonwealth Consolidated Acts Commonwealth Consolidated ActsThe Commissioner can reverse the effect of schemes that, in order to avoid tax, bring together in the same company:
assessable income; and
tax losses, current year deductions, or deductions for bad debts, that apart from the scheme would not be fully used.
Table of sections
175-5 When Commissioner can disallow deduction for tax loss
175-10 First case: income or capital gain injected into company because of available tax loss
175-15 Second case: someone else obtains a tax benefit because of tax loss available to company