Until recently, a company that had experienced a significant change in ownership or control could only carry forward its earlier tax losses to a later income year if the company carried on the “same” business after the change. However, a new alternative test that applies retrospectively from 1 July 2015 means that now companies only need to carry on a “similar” business.

Click to read our article:  Using prior tax losses after a change in control: ATO Guidance (0.55MB PDF)

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