Income Tax Assessment Act 1936
In this Subdivision:
(a) the total of the overall capital losses for all classes of assessable income for the loss year; and
(b) any accumulated net capital loss for the last year of income before the loss year;
(c) the total of the overall capital gains for all classes of assessable income for the loss year (before section 116GB is applied).
, in relation to assessable income, means a class specified in section 124ZY .
(a) the amount by which the total ordinary capital gain for that class exceeds the total ordinary capital loss for that class; or
(b) if an amount has been applied under subsection 124ZZB(2) to reduce an overall capital gain previously worked out under this definition - that gain as so reduced.
residual overall capital gain
means so much of an overall capital gain as remains after applying subsection 124ZZB(2) .
total ordinary capital gain
for a class means the total of so much of any ordinary capital gains as has been allocated to that class under section 124ZZA .
total ordinary capital loss
for a class means the total of so much of any ordinary capital losses as has been allocated to that class under section 124ZZA .
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