Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 170.110

When a company can transfer a net capital loss

             (1)  A company (the loss company ) can transfer an amount of its * net capital loss for an income year (the capital loss year ) to another company (the gain company ) if the conditions in this Subdivision are met.

             (2)  The amount transferred can be the whole or part of the * net capital loss.

Note:          A PDF cannot transfer a net capital loss, except one for a period before it became a PDF: see section 195-30 of the Income Tax Assessment Act 1997 .



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