Taxation Laws Amendment Act (No. 5) 2003 (142 of 2003)

Schedule 8   Tax losses

Income Tax Assessment Act 1997

21   Subsection 995-1(1) (before paragraph (b) of the definition of tax loss )

Insert:

Note 2: The meaning of tax loss in sections 36-10, 165-70, 175-35 and 701-30 is modified by section 36-55 for a corporate tax entity that has an amount of excess franking offsets.