Commonwealth Consolidated Acts Commonwealth Consolidated ActsA loss made but not utilised by an entity before the time it becomes a member of a consolidated group is transferred to the head company of the group at that time if the entity could have utilised the loss had the entity not become a member of the group.
Table of sections
707‑105 Who can utilise the loss?
Objects
707‑110 Objects of this Subdivision
Application
707‑115 What losses this Subdivision applies to
Transfer of loss from joining entity to head company
707‑120 Transfer of loss from joining entity to head company
707‑125 Modified same business test for companies’ post‑1999 losses
707‑130 Modified pattern of distributions test
707‑135 Transferring loss transferred to joining entity because same business test was passed
Effect of transfer of loss
707‑140 Effect of transfer of loss
Cancelling the transfer of the loss
707‑145 Cancelling the transfer of the loss
What happens if the loss is not transferred?
707‑150 Loss cannot be utilised for income year ending after the joining time