Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 175.75

Net capital loss resulting from disallowed capital losses

                   If a company has a * net capital gain for an income year because the Commissioner * disallows under this Subdivision * capital losses of the company for the income year (or parts of them), the company also has a net capital loss for the income year equal to the total of those losses and parts of losses.

                   To find out how much of the net capital loss can be applied
 in later income years: see Subdivision 165-CA.

To find out how to apply it: see sections 102-5 and 102-15.

Table of sections

175-80      When Commissioner can disallow deduction for bad debt

175-85      First case: income or capital gain injected into company because of available bad debt

175-90      Second case: someone else obtains a tax benefit because of bad debt deduction available to company



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