Section HA 23 — Income Tax Act 2007: Treatment of tax losses on amalgamation

HA 23 Treatment of tax losses on amalgamation If a company that is not a qualifying company amalgamates with a qualifying company and ends its existence on the amalgamation, subpart IA (General rules for tax losses) does not apply to carry forward the amalgamating company’s loss balance from earlier income years either to the income year of the amalgamation or to later income years. Defined in this Act: amalgamating company , amalgamation , company , income year , loss balance , qualifying company , tax loss , Compare: 2004 No 35 s HG 11(3A)