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INCOME TAX ASSESSMENT ACT 1997 - SECT 715.90

How business continuity test applies if leaving time is changeover time for leaving company

  (1)   This section applies if:

  (a)   the leaving entity is a company; and

  (b)   the leaving time is a * changeover time for the leaving entity.

  (2)   In applying to the leaving entity for the * changeover time that is the leaving time, subsection   165 - 115B(3) and paragraph   165 - 115BA(5)(c) have effect as if they provided that the time just after the changeover time were the test time for applying section   165 - 13 to the company.

Note:   This ensures that the business continuity test is applied to the business that the leaving entity carries on at the leaving time.



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