Organisational Name Type Code. Inform the relevant field with the name of the head company. The name shown must be the same as that shown on the head company's tax return. Name of Business Entity. Inform the relevant field with the Australian Business Number (ABN), if any, of the head company. Companies registered under the Corporations Law and business entities carrying on an enterprise in Australia are entitled to an ABN. Australian Business Number of Business Entity. Inform the field the amount of tax losses deducted/applied by the head company which did not satisfy the continuity of ownership and control tests but did satisfy the same business test. For each joining company that transferred a same business test tax loss or same business test net capital loss to the head company, determine the year of income in which the joining company first failed the continuity of ownership or control tests. 'Same' means 'identical' and not merely 'similar'. The term 'same business' is to be read as referring to the same business, in the sense of the identical business. However, the term does not mean identical in all respects. A company may expand or contract its activities without necessarily ceasing to carry on the same business. The organic growth of a business does not necessarily cause the business to fail the same business test provided the business retains its identity. However, if through a process of evolution a business changes its essential character, the entity may fail the test. Application of the same business test is a question of fact and is usually determined by a process of weighing up various relevant factors. For more information, see sections 165-13 and 165-210 of the ITAA 1997, Taxation Ruling TR 999/9 and Taxation Ruling TR 2007/2. The aim of it is to find out (in respect of companies that transferred losses to a head company of a consolidated group because a same business transfer test was satisfied): - the period of time between the year of failure of the continuity of ownership or control transfer tests and the trial year, and - the losses that failed the continuity of ownership or control tests at the joining time and in the trial year. When a company joins a consolidated group any unused carry forward losses are transferred to the head company if the losses could have been deducted/applied by the joining entity, assuming sufficient income or gains in the 'trial year', which generally begins 12 months before joining the consolidated group and ends immediately after the joining time. In certain circumstances, the trial year may be a shorter period than 12 months. See subsection 707-120(2) of the ITAA 1997. The amount of tax losses deducted/applied after consolidation which failed the continuity of ownership test but satisfied the same business test. Show the tax losses (including convertible foreign losses) deducted during the income year under section 36-17 of the ITAA 1997. Tax losses reconciliation for consolidated groups - SUBTRACT Tax losses deducted. Inform the label with the amount of tax losses, excluding film losses, foreign source losses and net capital losses carried forward to later income years for which the head company must satisfy the same business test to deduct these losses. Amount of tax losses carried forward to later income years which the same business test satisfied. Inform the field the total amount of group and transferred tax losses carried forward to later income years under section 36-17 of the ITAA 1997. Transferred tax losses are tax losses that have been made outside the consolidated group and transferred into the group from an entity when it joined the group. Any concessional transferred tax losses carried forward are also included. Group tax losses are those tax losses that have been generated by the consolidated group. The tax losses carried forward to later income years - Total. Inform the field the amount of transferred tax losses carried forward to later income years under section 36-17 of the ITAA 1997. Transferred tax losses are tax losses that have been made outside the consolidated group and transferred into the group from an entity when it joined the group. Any concessional transferred tax losses carried forward are also included. The tax losses carried forward to later income years - Transferred. Inform the field the amount of group tax losses carried forward to later income years under section 36-17 of the ITAA 1997. Group tax losses are those tax losses that have been generated by the consolidated group. The tax losses carried forward to later income years - Group. Inform the relevant field with the amount of complying superannuation net capital losses carried forward to later income years. Generally, a life insurance company will have a tax loss for an income year if the life company's deductions for that income year exceed the sum of the assessable income for that income year, and net exempt income for the income year that is attributable to the complying superannuation assets. Complying superannuation net capital losses carried forward to later income years Inform the relevant field with the amount of complying superannuation class tax losses carried forward to later income years. Generally, a life insurance company will have a tax loss of the complying superannuation class for an income year if the company's complying superannuation deductions for that income year exceed the sum of the complying superannuation assessable income for that income year, and net exempt income for the income year that is attributable to the company superannuation assets. Complying superannuation class tax losses carried forward to later income years Inform the field the amount of total of net capital losses carried forward to later income years. This amount transfers to the Company/Trust income tax return. Net capital losses carried forward to later income years - Total. Inform the field of the amount of transferred net capital losses carried forward to later income years. Transferred net capital losses are net capital losses that have been made outside the consolidated group and transferred into the group from an entity when it joined the group. Any concessional transferred net capital losses carried forward are also included. Net capital losses carried forward to later income years - Transferred. Inform the field of the amount of group net capital losses carried forward to later income years under section 102-15 of the ITAA 1997. Group net capital losses are those net capital losses that have been generated by the consolidated group. Do not include tax losses, film losses or foreign source losses Net capital losses carried forward to later income years - Group. Inform the field the amount of net capital losses carried forward to later income years for which the head company must satisfy the same business test to deduct/apply these losses. The Same Business Test is one of the three tests in Section 165-210 (the same business test, the new business test, and the new transaction test). The same business test, which is the primary test, is a positive test: it looks to see whether the business of the company in the year of recoupment is actually the same business that was carried on at the change-over. The same business test is intended to ensure continuing identity between the whole of the business activities carried on by the taxpayer at the change-over and the whole of the business activities carried on by the taxpayer during the period of recoupment. Amount of net capital losses, excluding film losses, carried forward to later income years which the same business test must be satisfied before they can be deducted/applied. Inform the relevant field with the total amount of tax losses deducted, excluding film losses and foreign source losses deducted. The amount of total tax losses deducted, excluding film losses. Inform the relevant field with the amount of tax losses, excluding film losses and foreign source losses deducted, which were generated by an entity before it became a member of the group and transferred into the group when it joined the group. Transferred tax losses deducted on a concessional basis are also included. The amount of transferred tax losses deducted, excluding film losses. Inform the relevant field with the amount of tax losses, excluding film losses and foreign source losses deducted, which were generated by the consolidation group i.e. group losses. Group tax losses are effectively deducted before transferred tax losses. The amount of group tax losses deducted, excluding film losses. Inform the field the total amount of group net capital losses and transferred net capital losses applied. Do not include tax losses, film losses or foreign source losses. The amount of total net capital losses applied. Inform the field of the amount of transferred net capital losses applied. Transferred net capital losses are net capital losses that have been made outside the consolidated group and transferred into the group from an entity when it joined the group. The amount also includes the Transferred net capital losses applied on a concessional basis. Do not include tax losses, film losses or foreign source losses which have been applied. The amount of transferred net capital losses applied. Inform the field of the amount of group net capital losses applied Group net capital losses are those net capital losses that have been generated by the consolidated group. Group net capital losses are effectively applied before transferred net capital losses. Do not include tax losses, film losses or foreign source losses which have been applied. The amount of group net capital losses applied. Inform the relevant field with the corresponding available fraction calculated for the loss bundles for those joining entities whose TFN's are recorded as having had tax losses from their loss bundles deducted applying the available fraction method. Each available fraction is to be completed to three decimal places (for example, 0.475, 0.520, 0.700). However, where rounding to three decimal places would result in an available fraction of nil, consolidated groups are permitted to round the available fraction to the first non-zero digit. Where the available fraction is less than 0.0005, the amount of 0.000 should be written at the relevant label. Where the available fraction is greater than 0.0005 but less than 0.001, the fraction should be rounded up to 0.001. If the sum of the group's available fractions would total more than 1, each available fraction is proportionately reduced. The available fraction recorded for the value/loss donor in respect of tax losses donated is the available fraction of the real loss-maker company, not the value/loss donor's available fraction. Transferred tax losses deducted excluding film losses, available fraction. Inform the fields, as required, the corresponding amount of transferred tax losses deducted from loss bundles for those joining entities whose TFN's are recorded as having had tax losses from their loss bundles deducted. If tax losses have been deducted from more than six loss bundles, enter the six largest amounts deducted. Transferred tax losses deducted excluding film losses, available amount. Inform the relevant field with the corresponding available fraction calculated for the loss bundles for those joining entities whose TFN's are recorded as having had net capital losses from their loss bundles applied where the available fraction method was used. Each available fraction is to be completed to three decimal places (for example, 0.475, 0.520, 0.700). However, where rounding to three decimal places would result in an available fraction of nil, consolidated groups are permitted to round the available fraction to the first non-zero digit. Where the available fraction is less than 0.0005, the amount of 0.000 should be written at the relevant label. Where the available fraction is greater than 0.0005 but less than 0.001, the fraction should be rounded up to 0.001. If the sum of the group's available fractions would total more than 1, each available fraction is proportionately reduced. Net capital losses applied excluding film losses, available fraction. Do not include transferred net capital losses applied in accordance with the concessional method. Show donated net capital losses utilised with the TFN of the value/loss donor company, not the loss-maker. Net capital losses applied excluding film losses, available amount. Each year designated infrastructure project entities are required to uplift their tax losses. Uplift of tax losses of designated infrastructure project entities. The aggregated total is calculated by applying the head company's attribution percentage in each CFC. Current Year CFC Losses. Inform the field the amount of net capital losses deducted/applied during the income year by the head company after consolidation which did not satisfy the continuity of ownership and control tests but did satisfy the same business test. Do not include film losses or foreign source losses. The amount of net capital losses deducted/applied after consolidation which the continuity of ownership test failed but satisfied the same business test. Inform the relevant field with the amount of net capital losses, excluding film losses and foreign source losses, transferred from joining entities to the head company after the date the consolidated group has been brought into existence, that is, the date specified in the notice of choice given to the Commissioner of Taxation,(See section 703-50 of the ITAA 1997), where the continuity of ownership and control tests were failed but the joining company satisfied the same business test. Net capital losses transferred from joining entities to the head company after consolidation where the continuity of ownership and control tests were failed but the joining company satisfied the same business test. Inform the relevant field with the amount of net capital losses, excluding film losses and foreign source losses, transferred from joining entities to the head company after the date the consolidated group has been brought into existence, that is, the date specified in the notice of choice given to the Commissioner of Taxation,(See section 703-50 of the ITAA 1997), because the continuity of ownership and control tests were satisfied from the start of the year when the loss was incurred until immediately after the joining time. Net capital losses transferred from joining entities to the head company after consolidation because the continuity of ownership and control tests were satisfied. Inform the field of those net capital losses that were transferred after consolidation by a trust. Net capital losses that were transferred after consolidation by a trust. Inform the relevant field with the amount of net capital losses, excluding film losses and foreign source losses, transferred from joining entities, including the head company, to the head company at the date the consolidated group has been brought into existence, that is, the date specified in the notice of choice given to the Commissioner of Taxation,(See section 703-50 of the ITAA 1997) where the continuity of ownership and control tests were failed but the joining company satisfied the same business test. Net capital losses transferred from joining entities (including head company) to the head company at consolidation where the continuity of ownership and control tests were failed but the joining company satisfied the same business test. Inform the relevant field with the amount of net capital losses, excluding film losses and foreign source losses, transferred from joining entities, including the head company, to the head company at the date the consolidated group has been brought into existence, that is, the date specified in the notice of choice given to the Commissioner of Taxation,(See section 703-50 of the ITAA 1997) because the continuity of ownership and control tests were satisfied for the ownership test period, that is, from the start of the year when the net capital loss was made until immediately after the joining time. Net capital losses, excluding film losses, transferred from joining entities (including head company) at consolidation because the continuity of ownership and control tests were satisfied. Inform the field the amount of those net capital losses that were transferred at consolidation by a trust. Net capital losses that were transferred at consolidation by a trust. Show the undeducted amount of tax losses incurred by the company and brought forward to the current year income year under section 36-17 of the ITAA 1997. The balance of losses brought forward from prior income years includes undeducted tax losses remaining within a bundle of losses (i.e. tax losses transferred in a prior income year under Subdivision 707-A). Tax losses reconciliation for consolidated groups - Balance of the undeducted amount of tax losses, excluding net capital losses and film losses, brought forward from the prior income year. Inform the field the total of the head company's share of losses of CFCs, from statutory accounting periods that end in prior income years, which have been claimed as notional allowable deductions for statutory accounting periods that end in the current income year. CFC losses deducted. If the company has excess franking offsets, it must convert the excess franking offsets into an amount of tax loss to carry forward to later income years. You convert the amount of excess franking offsets into a tax loss by dividing the excess franking offsets amount by the corporate tax rate which gives you that tax loss amount. Tax losses reconciliation for consolidated groups - ADD Tax loss amount, excluding net capital losses and film losses, from conversion of excess franking offsets. Show the amount of net exempt income to be taken into account in calculating the company's tax loss or carried forward tax loss. You are required to first deduct a prior year tax loss from any net exempt income in the later income year. If the entity has: net exempt income; and assessable income exceeds allowable deductions (other than the tax loss), the tax loss has to be first applied against net exempt income and then the entity can deduct the amount of the tax loss (if any remains) that it chooses, subject to certain limitations (see subsections 36-17(3) and (5) of the ITAA 1997). Conversely, if the entity has: net exempt income; and allowable deductions (other than the tax loss) exceed assessable income, that excess must be applied against net exempt income and then the tax loss must be applied against any net exempt income that remains (subsection 36-17(4) of the ITAA 1997). Tax losses reconciliation for consolidated groups - SUBTRACT Net exempt income to be taken into account in calculating the company's tax loss or carried forward tax loss, excluding net capital losses and film losses. Tax losses brought forward and losses transferred from joining entities are reduced by any commercial debt forgiveness amounts (Division 245 of Schedule 2C to the ITAA 1936). If a commercial debt owed by the company is forgiven during the income year, apply the net amount of debts forgiven to reduce the company's deductible revenue losses, net capital losses, certain undeducted revenue or capital expenditure and the cost bases of CGT assets, in that order. Show the total net forgiven amount applied to reduce tax losses (if any) incurred in years of income before the forgiveness year of income or to reduce tax losses transferred under Subdivision 707-A from joining entities in the current year. Tax losses reconciliation for consolidated groups - SUBTRACT Amount of net forgiven debt applied to reduce tax losses. A company cannot deduct a tax loss unless: (a) it has the same owners and the same control throughout the period from the start of the loss year to the end of the income year; or (b) it satisfies the same business test by carrying on the same business, entering into no new kinds of transactions and conducting no new kinds of business. See Subdivision 165-A of the ITAA 1997. Tax losses reconciliation for consolidated groups - SUBTRACT Tax losses cancelled or forgone, excluding net capital losses and film losses. Show the company's tax loss for the year disregarding net exempt income and excess franking offsets. Note: There is a limit on the total of the amount you can deduct for the income year for gifts and contributions (section 26-55 of the ITAA 1997). A tax loss cannot be produced or increased by the deduction allowable under Division 30 of the ITAA 1997, which is about deductions for gifts or contributions. Tax losses reconciliation for consolidated groups - ADD Tax loss, excluding net capital losses and film losses, incurred during current year, disregarding net exempt income and excess franking credits. Inform the relevant field with the amount of tax losses, excluding film losses and foreign source losses, transferred from joining entities, including the head company after the date the consolidated group has been brought into existence - that is, the date specified in the notice of choice given to the Commissioner of Taxation (Commissioner). See section 703-50 of the ITAA 1997, where the continuity of ownership and control tests were failed but the joining company satisfied the same business test. Tax losses, excluding film losses, transferred from joining entities to the head company after consolidation where the continuity of ownership and control tests were failed but the joining company satisfied the same business test. Inform the relevant field with the amount of tax losses, excluding film losses and foreign source losses, transferred from joining entities to the head company after the date the consolidated group has been brought into existence - that is, the date specified in the notice of choice given to the Commissioner of Taxation (Commissioner). See section 703-50 of the ITAA 1997 because the continuity of ownership and control tests were satisfied from the start of the year when the tax loss was incurred until immediately after the joining time. Tax losses, excluding film losses, transferred from joining entities to the head company after consolidation because the continuity of ownership and control tests were satisfied. Inform the relevant field with the amount of tax losses, excluding film losses and foreign source losses, transferred by a trust after the date the consolidated group has been brought into existence - that is, the date specified in the notice of choice given to the Commissioner of Taxation (Commissioner). See section 703-50 of the ITAA 1997. Tax losses, excluding film losses, transferred after consolidation from a trust. Inform the relevant field with the amount of tax losses, excluding film losses and foreign source losses, transferred from joining entities, including the head company, to the head company at the date the consolidated group has been brought into existence - that is, the date specified in the notice of choice given to the Commissioner of Taxation,(See section 703-50 of the ITAA 1997), where the continuity of ownership and control tests were failed but the joining company satisfied the same business test. Tax losses, excluding film losses, transferred from joining entities (including head company) at consolidation because the same business test was satisfied. Inform the relevant field with the amount of tax losses, excluding film losses and foreign source losses, transferred from joining entities, including the head company, to the head company at the date the consolidated group has been brought into existence - that is, the date specified in the notice of choice given to the Commissioner of Taxation (See section 703-50 of the ITAA 1997), because the continuity of ownership and control tests were satisfied for the ownership test period - that is, from the start of the year when the tax loss was incurred until immediately after the joining time. Tax losses, excluding film losses, transferred from joining entities (including head company) at consolidation because the continuity of ownership and control tests were satisfied. Inform the relevant field with the amount of tax losses, excluding film losses and foreign source losses, that were transferred at consolidation from a trust to the head company at the date the consolidated group has been brought into existence - that is, the date specified in the notice of choice given to the Commissioner of Taxation (See section 703-50 of the ITAA 1997). The trust loss legislation in Schedule 2F to the Income Tax Assessment Act 1936 (ITAA 1936) affects the deductibility of prior year tax losses by trusts. The measures generally apply from 7.30pm Australian Eastern Standard Time on 9 May 1995. The legislation applies to two broad categories of trusts: fixed trusts - see section 272-65 of Schedule 2F to the ITAA 1936 non-fixed trusts (including discretionary trusts) defined in section 272-70 of Schedule 2F to the ITAA 1936. Tax losses, excluding film losses, transferred from joining entities (including head company) at consolidation from a trust. Show the amount of tax losses transferred from joining entities to the head company during the current year income year. Note: tax losses transferred from joining entities in prior years are included at the label - Balance of losses brought forward from prior income years. Tax losses reconciliation for consolidated groups - ADD Tax losses transferred from joining entities under Subdivision 707-A. Inform the field the total amount of the cancellation of the transfer of one or more losses for joining entities whose TFNs are recorded as having had transfers of one or more losses cancelled during the income year. Details of cancellation of transfer of losses - Joining entity amount. Inform True if the answer to the question is yes, otherwise inform False. A head company can make a choice to cancel the transfer of a loss of a joining entity. If the choice is made, the loss cannot be used by any entity for an income year ending after the joining time. If the answer is yes, complete next label - details of cancellation of transfer of losses. If the answer is no, move to "Ownership test and same business test". Has the head company cancelled the transfer of a loss? If transferred tax losses or transferred net capital losses have been utilised from any loss bundle applying the available fraction method, this question must be answered. Inform True if the answer to the question is yes, otherwise inform False. Were the apportionment rules applied? Inform the field, the total amount of tax losses and net capital losses for each joining company that transferred a same business test tax loss or same business test net capital loss to the head company that first failed the continuity of ownership or control tests in the current year-4 income year or earlier income years but satisfied the same business test. If there is no amount, leave blank. Do not include film losses or foreign source losses The total amount of tax losses and net capital losses, excluding film losses, for each joining company that transferred a same business test tax loss or same business test net capital loss to the head company that first failed the continuity of ownership or control tests in the current income year-4 and earlier income years but satisfied the same business test. Inform the field, the total amount of tax losses and net capital losses for each joining company that transferred a same business test tax loss or same business test net capital loss to the head company that first failed the continuity of ownership or control tests in the current year-3 income year but satisfied the same business test. If there is no amount, leave blank. Do not include film losses or foreign source losses. The total amount of tax losses and net capital losses, excluding film losses, for each joining company that transferred a same business test tax loss or same business test net capital loss to the head company that first failed the continuity of ownership or control tests in the current income year minus 3 but satisfied the same business test. Inform the field, the total amount of tax losses and net capital losses for each joining company that transferred a same business test tax loss or same business test net capital loss to the head company that first failed the continuity of ownership or control tests in the current year-2 income year but satisfied the same business test. If there is no amount, leave blank. Do not include film losses or foreign source losses. The total amount of tax losses and net capital losses, excluding film losses, for each joining company that transferred a same business test tax loss or same business test net capital loss to the head company that first failed the continuity of ownership or control tests in the current income year minus 2 but satisfied the same business test. Inform the field, the total amount of tax losses and net capital losses for each joining company that transferred a same business test tax loss or same business test net capital loss to the head company that first failed the continuity of ownership or control tests in the current year-1 income year but satisfied the same business test. If there is no amount, leave blank. Do not include film losses or foreign source losses. The total amount of tax losses and net capital losses, excluding film losses, for each joining company that transferred a same business test tax loss or same business test net capital loss to the head company that first failed the continuity of ownership or control tests in the current income year minus 1 but satisfied the same business test. Inform the field, the total amount of tax losses and net capital losses for each joining company that transferred a same business test tax loss or same business test net capital loss to the head company that first failed the continuity of ownership or control tests in the current income year but satisfied the same business test. If there is no amount, leave blank. Do not include film losses or foreign source losses. The total amount of tax losses and net capital losses, excluding film losses, for each joining company that transferred a same business test tax loss or same business test net capital loss to the head company that first failed the continuity of ownership or control tests in the current income year but satisfied the same business test. A group company may transfer the whole or a part of a tax loss to another company where: 1. both companies are members of the same wholly-owned group, and 2. one of the companies is: - an Australian branch of a foreign bank, or - an Australian PE of a foreign financial entity if the tax loss is for an income year commencing on or after 26 June 2005, and 3. the other company is: - the head company of a consolidated group or MEC group, or - not a member of a consolidatable group, and 4. the further conditions in Subdivision 170-A of the ITAA 1997 are satisfied. Tax losses reconciliation for consolidated groups - SUBTRACT Tax losses, excluding net capital losses and film losses, transferred out under Subdivision 170-A of the ITAA 1997. This ensures that if the transferred losses of a joining entity have an available fraction of nil, the head company can apply the losses to reduce: - a net forgiven amount under the commercial debt forgiveness rules; - a capital allowance that is adjusted under the limited recourse debt rules; or - the capital gain that arises under CGT event L5 when the joining entity subsequently leaves the group. Tax losses reconciliation for consolidated groups - SUBTRACT Transferred tax losses with a nil available fraction that has been applied. Inform the field the total amount of the head company's share of losses of CFCs that are available to be carried forward to statutory accounting periods that end in later income years. CFC losses carried forward. Show the total of tax losses carried forward to later income years. Tax losses reconciliation for consolidated groups - Total tax losses carried forward to later income years. CGLSLodgeRequest [Abstract] RP Primary Items [Abstract] RP Y0-4P Primary Items [Abstract] RP Y0-3 Primary Items [Abstract] RP Y0-2 Primary Items [Abstract] RP Y0-1 Primary Items [Abstract] RP Y0 Primary Items [Abstract] RP TOT Primary Items [Abstract] RP TRFD Primary Items [Abstract] RP GRP Primary Items [Abstract] RP COTF Primary Items [Abstract] RP COTP Primary Items [Abstract] RP COTT Primary Items [Abstract] TRFR Primary Items [Abstract] JE Primary Items [Abstract]