Taxation of certain entities - Qualifying companies (QC)
HA 24: Treatment of tax losses other than certain foreign losses
You could also call this:
“Rules for handling most tax losses have been removed”
This section of the law was about how tax losses, except for some foreign losses, were treated. However, it was removed from the law on 1 April 2011. This means it no longer applies to income years that started on or after that date. Since the section has been taken out of the law, there are no current rules to explain about how these tax losses are treated.
“This section about handling some overseas losses is no longer in use”
Part H
Taxation of certain entities
Qualifying companies (QC)
HA 24Treatment of tax losses other than certain foreign losses (Repealed)
Notes
Section HA 24: repealed, on (applying for income years beginning on or after 1 April 2011), by section 74(1) of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130).
Section HA 24(1): replaced (with effect on 1 April 2008), on , by section 128(1) (and see section 128(4) and (5)) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
Section HA 24(3)(a): amended (with effect on 1 April 2008), on , by section 128(2) (and see section 128(4) and (5)) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
Section HA 24 list of defined termsnet mining loss: inserted (with effect on 1 April 2008), on , by section 128(3) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
