On 16 August 2007, the Tax Laws Amendment (2007 Measures No 5) Bill 2007 was introduced in Parliament. In line with earlier announcements by the government (including budgetary announcements), the Bill proposes to make the following amendments to income tax legislation:
| - | Removal of same business test cap. Prior to 1 July 2005, companies were able to utilize carried forward losses subject to the losses satisfying one … |