The Australian Taxation Office (ATO) has published Law Companion Ruling (LCR) 2019/1 on the new business continuity test introduced by the Treasury Laws Amendment (2017 Enterprise Incentives No. 1) Act 2019, which received royal assent (was enacted) on 1 March 2019. The new business continuity test maintains the prior same business test, with the introduction of a new similar business test for the purpose of utilizing tax losses following a change in ownership or control. The similar business test is meant to improve access to losses for companies (and certain trusts) that have changed ownership and allow those companies and...