Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)
Schedule 6 Loss carry back consequential amendments
Part 1 Concepts and definitions
Income Tax Assessment Act 1997
24 Subsection 170-45(1)
Repeal the subsection, substitute:
Loss company can only transfer what it cannot use itself
(1) The amount transferred cannot exceed what would be the amount of the *loss company's *unutilised *tax loss at the end of the *deduction year if the loss company utilised the tax loss to the greatest extent possible.