Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 719 - MEC groups  

Subdivision 719-F - Losses  

Bundles of losses and their available fractions

SECTION 719-315   Further adjustment of available fractions for all bundles  

719-315(1)    
If, because of the application event:

(a) there is under section 719-305 an ^* available fraction for the ^* bundle of prior group losses; and

(b) section 719-310 affects the available fraction for one or more other bundles of losses;

this section affects the available fraction for every one of those bundles.

719-315(2)    
The available fraction (as affected by section 719-305 or 719-310 ) is reduced by multiplying it by this fraction:

*Available fraction for the *bundle of prior group losses   Sum of the *available fraction for every *bundle of losses whose available fraction is affected by this section

719-315(3)    
For the purposes of working out the fraction in subsection (2), use the value of an ^* available fraction for a ^* bundle of losses apart from:

(a) this section; and

(b) if item 5 of the table in subsection 707-320(2) would apply as a result of the calculation of the available fraction in accordance with section 719-305 or 719-310 - that item.