Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 118 - Exemptions  

Subdivision 118-A - General exemptions  

Exempt or loss-denying transactions

SECTION 118-70  

118-70   Transactions by exempt entities  

A *capital loss made by an entity is disregarded if it was an *exempt entity at the time it made the loss.