Tax Laws Amendment (2009 Measures No. 4) Act 2009 (88 of 2009)

Schedule 5   Minor amendments

Part 3   Amendments relating to foreign income tax offsets and foreign losses

Income Tax (Transitional Provisions) Act 1997

269   At the end of section 770-30

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(3) To avoid doubt, if, because of subsection (1) or section 770-100, an entity cannot deduct all or part of a tax loss in an income year, subsection 36-17(7) of the 1997 Act does not prevent the entity deducting other tax losses in the same year in accordance with that subsection.