Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The * total net forgiven amount (if any) remaining after being applied under section 245 - 115 is applied, to the maximum extent possible, in reduction, in accordance with section 245 - 135, of your * net capital losses (if any) specified in subsection (2).
(2) Those * net capital losses are your net capital losses for income years before the * forgiveness income year that you could apply in working out your * net capital gain for the forgiveness income year if you had enough capital gains.