Commonwealth Consolidated Acts Commonwealth Consolidated ActsAn entity can deduct a bad debt that:
(a) has for a period been owed to a member of a consolidated group; and
(b) has for another period been owed to an entity that was not a member of that group;
only if each entity that has been owed the debt for such a period could have deducted the debt had it been written off as bad at the end of the period. This applies even if the debt is owed to the same entity for different periods.
Table of sections
Application and object
709 - 205 Application of this Subdivision
709 - 210 Object of this Subdivision
Limit on deduction of bad debt
709 - 215 Limit on deduction of bad debt
Extension of Subdivision to debt/equity swap loss
709 - 220 Limit on deduction of swap loss