Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If a * 170 - D deferred loss on a * CGT asset is in a * loss denial pool of an entity when the loss * revives, the * capital loss or deduction that section 170 - 275 would, apart from this section, treat the entity as having made or become entitled to at that time in respect of the asset is reduced by the lesser of:
(a) the amount of the capital loss or deduction; and
(b) the pool's * loss denial balance (as reduced by any previous reductions under section 715 - 130, subsection 715 - 160(1) or this subsection);
and the loss denial balance is reduced by the same amount.
(2) Subsection (1) applies to * 170 - D deferred losses in the order in which they * revive. If 2 or more revive at the same time, it applies to them in whichever order the entity determines.
(3) Subsection (1) reduces a * loss denial balance before section 715 - 130 does, unless the * realisation event happens after the leaving time referred to in that section.
715 - 370 Cost setting--reference time for determining currency
exchange rate effect