INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 165 - Income tax consequences of changing ownership or control of a company  

Subdivision 165-CB - Working out the net capital gain and the net capital loss for the income year of the change  

Working out the company's net capital gain and net capital loss

SECTION 165-114   165-114   How to work out the company's net capital loss  


The company's net capital loss for the income year is worked out in this way: Working out the company's net capital loss

Step 1.

Add up the *notional net capital losses (if any) worked out under section 165-108 .


Step 2.

If the Step 1 amount is more than zero, it is the company's net capital loss .

Note:

For exceptions and modifications to these rules: see section 102-30 .


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