New Business Tax System (Integrity and Other Measures) Act 1999 (Incorporating amendments up to Act No. 78 of 2001) (169 of 1999)

Schedule 5   Transfers of losses within wholly-owned company groups

Income Tax Assessment Act 1936

15   At the end of section 160ZP

Add:

(16) The provisions of Subdivision 170-C of the Income Tax Assessment Act 1997 (so far as they relate to the transfer of net capital losses) are to be disregarded in applying the provisions of this section where the relevant agreement referred to in paragraph (7)(c) was made before 22 February 1999.