Australian Legislation Submitted to Parliament on Access to Losses and Intangible Asset Depreciation

The Treasury Laws Amendment (2017 Enterprise Incentives No. 1) Bill 2017 is currently before the Australian House of Representatives. The Bill includes amendments announced as part of the Government’s National Innovation and Science Agenda relating to the access to losses and intangible asset depreciation.

Access to Losses

The Bill includes amendments to introduce a similar business test to supplement the same business test that currently applies for losses when there is a change in owners…