Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 170 - Treatment of company groups for income tax purposes  

Subdivision 170-B - Transfer of net capital losses within certain wholly-owned groups of companies  

SECTION 170-145  

170-145   Special rules affecting utilisation of losses in a bundle do not affect the amount of a net capital loss that can be transferred  

In working out an amount under subsection 170-145(7) of the Income Tax Assessment Act 1997 (which may limit the amount of a net capital loss that can be transferred under Subdivision 170-B of that Act), disregard these sections of this Act:

(a) section 707-325 (which lets the available fraction for a bundle of losses be greater than it would otherwise be);

(b) section 707-327 (which effectively lets the available fraction relevant to the utilisation of a loss be chosen in some cases);

(c) section 707-350 (which sets the limit on utilising certain losses in a bundle).