INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997
If you incurred a loss for the purposes of section 79E (General domestic losses of 1989-90 to 1996-97 years of income) of the Income Tax Assessment Act 1936 in any of the 1989-90 to 1996-97 income years, the loss is your tax loss for that income year, which is called a loss year .36-105(2) [Deducting loss in 1997/98 or later]
You can deduct the tax loss in the 1997-98 or a later income year only to the extent that it has not already been deducted.
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