Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 170.120

Gain company is taken to have made transferred loss

             (1)  If an amount of a * net capital loss is transferred, the amount is taken to be a * net capital loss of the gain company for the capital loss year.

             (2)  However, if the capital loss year is the same as the application year, the amount is taken to be a * capital loss of the gain company for the application year.



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