Taxation of Companies: Tax loss

Question 1

A company must satisfy which requirements if it wishes to carry its tax los forward?

Answer 1

Share holder continuity >49% or business continuity

Question 2

What is the minimum voting interest?

Answer 2

• The lowest voting interest a particular shareholder has in a company during a continuity period

Question 3

What is the aggregate?

Answer 3

• The sum of all shareholder minimum voting interest and your hoping that it is equal to 49% or more

Question 4

What is the continutiy of business test?

Answer 4

• Where a company fails its continuity test is can still carry loss forward if the Loss was incurred after the 2013 -2014 income year or later

Does not cease to carrying on a business during continuity period

And no major change in nature of business activity during the continuity period