Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 170 - Treatment of certain company groups for income tax purposes  

Subdivision 170-B - Transfer of net capital losses within certain wholly-owned groups of companies  

Effect of transferring a net capital loss

SECTION 170-120   Gain company is taken to have made transferred loss  

170-120(1)    
If an amount of a *net capital loss is transferred, the amount is taken to be a *net capital loss of the gain company for the capital loss year.

170-120(2)    
However, if the capital loss year is the same as the application year, the amount is taken to be a *capital loss of the gain company for the application year.



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