Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)
Schedule 2 Consolidation etc.
Part 8 Foreign losses
Income Tax Assessment Act 1936
35 Paragraph 160AFD(6)(b)
Repeal the paragraph, substitute:
(b) if that loss were a tax loss of the taxpayer for the year of income for which the taxpayer incurred that loss, the taxpayer could not deduct it for the particular year of income because of Subdivision 165-A or 175-A of the Income Tax Assessment Act 1997;