Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This Subdivision sets out cases where the Commissioner may disallow some or all of a * tax loss (or of part of a tax loss) (the excluded loss ) as a deduction in calculating a company's taxable income of an income year after the * loss year.
(2) However, the Commissioner cannot disallow the * excluded loss if the company:
(a) fails to meet a condition in section 165- 12 (which is about the company maintaining the same owners) in respect of the * loss year or the income year; but
(b) meets the condition in section 165- 13 (which is about the company satisfying the same business test) in respect of the income year.