Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of step 6 in the table in section 705‑60, the step 6 amount is worked out by multiplying the sum of the losses mentioned in subsection (2) by the * general company tax rate.
(2) The losses are the joining entity’s losses of any * sort that:
(a) were not * utilised by the joining entity for the income year in which the joining time occurred or any earlier income year; and
(b) did not accrue to the joined group before the joining time (see subsection 705‑90(4)); and
(c) are transferred to the * head company under Subdivision 707‑A; and
(d) are not cancelled under section 707‑145.