Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

2   CGT (new Parts 3-1, 3-3 and 3-5)

3   Consequential amendment of the Income Tax Assessment Act 1936

396   Before subsection 160ZP(1)

Insert:

(1A) An amount of a net capital loss cannot be transferred under this section in the 1998-99 year of income or a later year of income.

Note: To work out whether a company can transfer a net capital loss to another company in the 1998-99 year of income or a later year of income: see Subdivision 170-B of the Income Tax Assessment Act 1997.