INCOME TAX ASSESSMENT ACT 1997 - SECT 707.410 Exit history rule does not treat entity as having made a loss
INCOME TAX ASSESSMENT ACT 1997 - SECT 707.410
Exit history rule does not treat entity as having made a loss(1) To avoid doubt, if the * head company of a * consolidated group makes a loss of a particular * sort and an entity ceases to be a * subsidiary member of the group, the entity is not taken because of section 701 - 40 (the exit history rule):
(b) to have made another loss of the same sort because of the circumstances that caused the head company to make the loss.
(2) It does not matter whether the * head company makes the loss
because of a transfer under Subdivision 707 - A (whether from the
entity or another entity) or because of another provision.