Telecommunications Act 1997

This section applies in relation to Optus Networks Pty Limited (ACN 008 570 330) (Optus Networks) (whether or not its name is changed).

Optus Networks cannot deduct from its assessable income for a year of income ending on or after 1 February 1992 a loss (or a part of a loss) incurred in a year of income ending on or before 1 February 1992.

Subsection (2) has effect despite anything in the Income Tax Assessment Act 1936, in particular, sections 79E, 79F, 80, 80AAA and 80AA of that Act as in force before 14 September 2006.

Optus Networks cannot deduct from its assessable income for the 1997‑98 income year, or a later income year, a tax loss (or a part of a tax loss) incurred in an income year ending on or before 1 February 1992.

Subsection (4) has effect despite anything in the Income Tax Assessment Act 1997, in particular Division 36 of that Act.

An expression has the same meaning in this section as it has in the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997.