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28 Group Loss Relief - Coggle Diagram
28 Group Loss Relief
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Tax Treatment
S Co surrender not more than 70% of their excess CYBL after
deducting an amt equal to the Agg Y
or equal to DAY of C Co
cannot surrender:
- loss b/f
- current year CA & CA b/f
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group loss X c/f, it is a permanent los
Conditions for S Co
YA2019 onwards, S Co given
time limit of 3 consecutive YAs
to surrender its CYBL
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immediate following the 2nd BP
the S Co first commences operations IF
- BP for a YA Co 1st commence operations is
less or more than 12 mths
- 2nd BP consists a period of 12 mths
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excess ITA or pioneer loss to be c/f, no group relief is allowed
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