Income Tax Assessment Act 1997
In working out under section 165-115R or 165-115S whether a company was a *loss company at an alteration time (the current alteration time ), if a loss (the realised loss ) referred to in paragraph 165-115R(3)(a), (b), (c) or (d) or 165-115S(3)(a) or (b) that the company had at the current alteration time reflected an amount of a notional revenue loss, a trading stock decrease or a notional capital loss included in an adjusted unrealised loss, that the company had at a previous alteration time, the realised loss is taken to be reduced by that amount.
For notional revenue loss and notional capital loss see section 165-115V .
For trading stock decrease see section 165-115W .165-115T(2)
Subsection (1) does not apply to an adjusted unrealised loss that the company had at a previous alteration time if the company has chosen to use the *global method of working out whether it has an adjusted unrealised loss at that previous time.