Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 (147 of 2005)

Schedule 1   Loss recoupment rules for companies etc.

Income Tax Assessment Act 1997

174   Application of amendments relating to MDOs

Section 165-212D of the Income Tax Assessment Act 1997 (as inserted by item 76 of this Schedule), and items 152 and 160 of this Schedule, apply in respect of:

(a) any tax loss that is incurred in an income year (whether before or after the commencement of this item); and

(b) any net capital loss that is made in an income year (whether before or after the commencement of this item); and

(c) any deduction in respect of a bad debt that is claimed in an income year (whether before or after the commencement of this item).