INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteThe company has a notional net capital gain in respect of a period if the sum of the capital gains that accrued to the company in the period exceeds the sum of the capital losses that were incurred by the company in the period.
160ZNF(2) [Loss]On the other hand, if the sum of those capital losses exceeds the sum of those capital gains, the company has a notional net capital loss in respect of the period.
160ZNF(3) [Where no notional net capital loss]If the company has a notional net capital loss in respect of
none
of the periods in the year of income, this Division has no further application, and the company's net capital gain in respect of the year of income is calculated in the usual way.
Note:
The usual way of working out a net capital gain is set out in section 160ZC.
160ZNF(4) [When part of net capital gain accrues]For the purposes of this section, so much of an amount included in the company's assessable income of the year of income under section 97 or 98A as is a capital gain that forms part of a net capital gain is taken to have accrued to the company in a period so far as the amount is reasonably related to the period.
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