Commentary

D7.575 Gross roll up business – transitional provisions

Corporate tax
Corporate tax | Commentary

D7.575 Gross roll up business – transitional provisions

Corporate tax | Commentary

D7.575 Gross roll up business – transitional provisions

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

The transition to the new gross roll up category required a mechanism to deal with unrelieved losses brought forward from the five previous categories. In order to do this the legislation looks at losses sustained in each of three separate periods and prescribes the order of set off of those losses. The three periods are the first period of account beginning on or after 1 January 2007, ie the period in which the company first came within the new regime (the commencement period); a period of account beginning before 1 January 2007, ie the last period of the old regime

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