s 165-115E
In forceChoice to use global method to work out unrealised net loss
Chapter 3Specialist liability rules
Part 3-5Corporate taxpayers and corporate distributions
Division 165Income tax consequences of changing ownership or control of a company
Subdivision 165-CCChange of ownership or control of company that has an unrealised net loss
165-115E Choice to use global method to work out unrealised net loss
A choice under section 165‑115E of the Income Tax Assessment Act 1997 to use the global method of working out whether a company has an unrealised net loss at a particular time must be made within 6 months after the day on which the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 received the Royal Assent if:
(a)
that time is before that day; and
(b)
subsection 165‑115E(4) of that Act would otherwise require the choice to be made before the end of those 6 months.
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