You are probably correct; however, the 'same business test' has been significantly relaxed recently. See link below. There is a reasonable chance they could use the losses. Not saying they definitely will be able to, but as I said the fact there isn't at least a note makes me think they found a way around it. I've seen stranger things happen.
It would seem very much too good to be true though.
http://www.treasury.gov.au/Policy-Topics/Taxation/NISA/Access-to-company-losses
You are probably correct; however, the 'same business test' has...
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