INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history note(a) the company's notional net capital gains in respect of any of the periods in the year of income; and
(b) so much of any amounts included in the company's assessable income of the year of income under section 97 or 98A as are capital gains that form part of a net capital gain, so far as the amounts are not reasonably related to a period;
exceeds the sum of any net capital losses incurred by the company in respect of earlier years of income that may be applied in respect of the year of income under section 160ZC , the excess is taken to be a net capital gain that accrued to the company in respect of the year of income.
160ZNG(2) [Net capital loss]The sum of the company's notional net capital losses in respect of any of the periods in the year of income is taken to be a net capital loss that was incurred by the company in respect of the year of income.
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