Legislation

ITAA 1997 s 707-328(4) provides that in determining whether this transfer could have occurred, the fact that the income year commences after 30 June 2003 does not mean that one of the companies has to be an Australian branch of a foreign bank, in order to satisfy the conditions in Subdivision 170-A

ATO documents that consider ITAA 1997 s 707-328(4) provides that in determining whether this transfer could have occurred, the fact that the income year commences after 30 June 2003 does not mean that one of the companies has to be an Australian branch of a foreign bank, in order to satisfy the conditions in Subdivision 170-A

1 document

TD 2004/D54 (Finalised)replacedTD · 2004

Income tax: for the condition outlined in subsection 707-328(4) of the Income Tax (Transitional Provisions) Act 1997, are Subdivisions 170-A and 170-B of the Income Tax Assessment Act 1997 applied as if they had not been amended by Schedule 3 to Act 68 of 2002, to only provide for loss transfers involving an Australian branch of a foreign bank?