Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 165.5

A company cannot deduct a tax loss unless:
. it has the same owners and the same control throughout the loss year and the
income year; or
. it carried on the same business, entered no new transactions and conducted
no additional business.

Table of sections Operative provisions
165-10    To deduct a tax loss

165-12    Company must maintain the same owners

165-13    Alternatively, company must carry on same business

165-15    Same people must control the voting power, or company must 
carry on same business
165-20    When company can deduct part of a tax loss