Taxation of certain entities - Qualifying companies (QC)
HA 20: Attribution of tax losses
You could also call this:
“This rule about assigning tax losses is no longer used”
This part of the law is no longer in effect. It was about how tax losses were assigned in certain situations, but it was removed from the Income Tax Act 2007 on 1 April 2011. This means that from that date onwards, this rule doesn’t apply anymore. If you need to know about current rules for tax losses, you should look at other parts of the law that are still active.
“Loss balances from previous years can't be used when a company becomes a qualifying company”
Part H
Taxation of certain entities
Qualifying companies (QC)
HA 20Attribution of tax losses (Repealed)
Notes
Section HA 20: repealed, on (applying for income years beginning on or after 1 April 2011), by section 74(1) of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130).
