Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 417 - Timor Sea petroleum  

Subdivision 417-D - Transferring or applying tax losses  

SECTION 417-105   417-105   The effect of choosing to apply losses to earlier income years  
If you choose under this Subdivision to apply an amount of a *tax loss for an income year as a deduction from your assessable income for an earlier income year:


(a) you can deduct the amount from your assessable income for the earlier income year; and


(b) you can no longer *utilise the amount, and you are taken not to have incurred the tax loss to the extent of the amount.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.