Section IA 6 — Income Tax Act 2007: Restrictions on companies grouping tax losses

IA 6 Restrictions on companies grouping tax losses Groups of companies (1) A company that is part of a group of companies may use under section IA 3(2) a tax loss under subpart IC (Grouping tax losses) only if it meets the requirements of section IC 5 (Company B using company A’s tax loss). Consolidated groups (2) Subpart ID (Use of tax losses by consolidated groups) applies to the grouping of tax losses by a consolidated group of companies. Avoidance arrangements (3) Section GB 4 (Arrangements for grouping tax losses: companies) may apply to treat a company as not meeting the requirements referred to in subsection (1). Defined in this Act: company , consolidated group , group of companies , tax loss , Compare: 2004 No 35 ss IG 1(1) , GC 4 Section IA 6(1): amended (with effect on 1 April 2008), on 7 December 2009, by section 58(1) of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63).