Commonwealth Consolidated Acts Commonwealth Consolidated ActsThe unutilised amounts of a designated infrastructure project entity's tax losses are increased each year by the long term bond rate. A designated infrastructure project entity is a fixed trust or company that:
(a) carries on an infrastructure project designated under Subdivision 415 - C; and
(b) only engages, and has only ever engaged, in activities for the purposes of carrying on that designated infrastructure project.
The tests that apply in relation to tax losses and bad debts if there is a change of ownership of an entity are modified so that periods during which the entity is a designated infrastructure project entity are not tested.
The loss utilisation rules in Subdivision 707 - C do not apply if the head company of a consolidated group is a designated infrastructure project entity after another designated infrastructure project entity joins the group.
Note: The transfer rules in subsection 707 - 120(1A) do not apply if a designated infrastructure project entity joins a consolidated group: see subsection 707 - 120(5).
Table of sections
Uplift of tax losses
415 - 15 Uplift of tax losses of designated infrastructure project entities
415 - 20 Designated infrastructure project entity
Change of ownership of trusts and companies
415 - 25 Tax losses of trusts
415 - 30 Bad debts written off etc. by trusts
415 - 35 Tax losses of companies
415 - 40 Bad debts written off by companies
Consolidated groups
415 - 45 Losses transferred to head companies of consolidated groups