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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 170.45

Special rules affecting utilisation of losses in a bundle do not affect the amount of a tax loss that can be transferred

                   In working out an amount under subsection 170-45(4) of the Income Tax Assessment Act 1997 (which may limit the amount of a tax loss that can be transferred under Subdivision 170-A of that Act), disregard these sections of this Act:

                     (a)  section 707-325 (which lets the available fraction for a bundle of losses be greater than it would otherwise be);

                     (b)  section 707-327 (which effectively lets the available fraction relevant to the utilisation of a loss be chosen in some cases);

                     (c)  section 707-350 (which sets the limit on utilising certain losses in a bundle).



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