Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 175 - Use of a company ' s tax losses or deductions to avoid income tax  

Subdivision 175-CB - Tax benefits from unused capital losses of the current year  

SECTION 175-75  

175-75   Net capital loss resulting from disallowed capital losses  
If a company has a *net capital gain for an income year because the Commissioner *disallows under this Subdivision *capital losses of the company for the income year (or parts of them), the company also has a net capital loss for the income year equal to the total of those losses and parts of losses.

To find out how much of the net capital loss can be applied in later income years: see Subdivision 165-CA .

To find out how to apply it: see sections 102-5 and 102-15 .