INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteIf a company has a net capital gain for a year of income because the Commissioner disallows under this Division capital losses of the company for the year of income (or parts of them), the company may also have a net capital loss in respect of the year of income.
160ZNX(2) [Total losses]The company's net capital loss in respect of the year of income is the total of the amounts of the capital losses that the Commissioner has disallowed under this Division.
Note:
To find out how the net capital loss is applied in determining whether the company has a net capital gain in a later year of income, see section 160ZC .
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