Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 195 - Special types of company  

Subdivision 195-B - Limited partnerships  

Operative provisions

SECTION 195-65  

195-65   Tax losses cannot be transferred to a VCLP, an ESVCLP, an AFOF or a VCMP  

A *limited partnership ' s *tax loss for a *loss year cannot be deducted in a later income year during which the partnership is a *VCLP, an *ESVCLP, an *AFOF or a *VCMP.