Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

NEW BUSINESS TAX SYSTEM (CONSOLIDATION) ACT (NO. 1) 2002 - SECT 707.400

Head company’s business before and after consolidation not compared

             (1)  If:

                     (a)  the * same business test applies to a company that becomes a * head company of a * consolidated group at a time; and

                     (b)  apart from this section, the same business test period would start before that time and end after it;

the same business test period starts at that time (and ends when it would end apart from this section), for the purposes of that application of the same business test.

             (2)  Subsection (1) does not apply for the purposes of working out whether the company can transfer to itself a loss under section 707‑120.


[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]