Income Tax (Consequential Amendments) Act 1997 (39 of 1997)

Schedule 1   Consequential amendments of the Income Tax Assessment Act 1936

238   Subsection 160ZC(5)

Omit everything after “year of income” (second occurring), substitute “if, had the net capital loss been a tax loss, Subdivision 165-A or 175-A of the Income Tax Assessment Act 1997 would have prevented the taxpayer from deducting it in that later income year.”.