New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (90 of 2002)

Schedule 8   Consolidation: amendment of transitional provisions for losses

Income Tax (Transitional Provisions) Act 1997

8   At the end of subsection 707-327(1)

Add:

Note: This section has effect even if the amount added to the real loss-maker's modified market value under section 707-325 is nil because the value donor's modified market value is nil.