Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 719 - MEC groups  

Subdivision 719-F - Losses  

Bundles of losses and their available fractions

SECTION 719-315   Further adjustment of available fractions for all bundles  

719-315(1)  
If, because of the application event:


(a) there is under section 719-305 an * available fraction for the * bundle of prior group losses; and


(b) section 719-310 affects the available fraction for one or more other bundles of losses;

this section affects the available fraction for every one of those bundles.

719-315(2)  
The available fraction (as affected by section 719-305 or 719-310 ) is reduced by multiplying it by this fraction:


  *Available fraction for the *bundle of prior group losses  
Sum of the *available fraction for every *bundle of
losses whose available fraction is affected by this section

719-315(3)  
For the purposes of working out the fraction in subsection (2), use the value of an * available fraction for a * bundle of losses apart from:


(a) this section; and


(b) if item 5 of the table in subsection 707-320(2) would apply as a result of the calculation of the available fraction in accordance with section 719-305 or 719-310 - that item.


 

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