Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-5
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CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS
Division 165
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Income tax consequences of changing ownership or control of a company
Subdivision 165-CB
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Working out the net capital gain and the net capital loss for the income year of the change
Working out the company's net capital gain and net capital loss
SECTION 165-114 165-114 How to work out the company's net capital loss
The company's net capital loss for the income year is worked out in this way: Working out the company's net capital loss
Step 1.
Step 2.
View history note
Hide history noteSECTION 165-114 165-114 How to work out the company's net capital loss
The company's net capital loss for the income year is worked out in this way: Working out the company's net capital loss
Step 1.
Add up the *notional net capital losses (if any) worked out under section 165-108 .
Step 2.
If the Step 1 amount is more than zero, it is the company's net capital loss .
Note:
For exceptions and modifications to these rules: see section 102-30 .
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