Commonwealth Consolidated Acts Commonwealth Consolidated ActsA company cannot deduct a tax loss unless:
(a) it has the same owners and the same control throughout the period from the start of the loss year to the end of the income year; or
(b) it satisfies the same business test by carrying on the same business, entering into no new kinds of transactions and conducting no new kinds of business.
Table of sections
Operative provisions
165-12 Company must maintain the same owners
165-13 Alternatively, the company must satisfy the same business test
165-15 The same people must control the voting power, or the company must satisfy the same business test
165-20 When company can deduct part of a tax loss