Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 (147 of 2005)

Schedule 1   Loss recoupment rules for companies etc.

Income Tax Assessment Act 1997

97   At the end of subsection 175-70(4)

Add:

Note: Section 175-100 allows the Commissioner to disallow the whole or part of any capital losses of an insolvent company.