18Tax equivalents

### 18 Tax equivalents > > (1)  The provisions of [Part 10 of the](/view/html/inforce/2026-04-12/act-1995-022#HP10@EN) [Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022) apply in relation to the Corporation and a subsidiary of the Corporation as if – > > > > > > (a) the Corporation were a Government Business Enterprise specified in [Schedule 2](/view/html/inforce/2026-04-12/act-1995-022#JS2@EN) to that Act; and > > > > > > > (b) the subsidiary were a subsidiary within the meaning of that Act. > > > (2)  [*\[Section 18 Subsection (2) omitted by No. 9 of 2018, s. 40, Applied:10 Sep 2018\]*](/view/html/inforce/2018-09-10/act-2018-009#GS40@EN) .  .  .  .  .  .  .  .   > > > (3)  The balance of any losses of a port company are available to the Corporation for the purposes of the calculation of an income tax equivalent under the [Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022) in respect of the financial year ending on 30 June 2006. > > > (4)  In [subsection (3)](#GS18@Gs3@EN)  – > > > > > ***balance of any losses***, in respect of a port company, means the balance of losses of the port company – > > > > > > > > (a) as calculated in accordance with the Treasurer's Instructions issued under the [Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022) as at the day immediately before the transfer day; and > > > > > > > > > (b) that would, if the day before the transfer day were the end of the financial year, be available to be carried forward from one financial year to the next in relation to the calculation of the taxable income of the port company under the *Income Tax Assessment Act 1936* of the Commonwealth and the *Income Tax Assessment Act 1997* of the Commonwealth.