Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 170 - Treatment of certain company groups for income tax purposes  

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

Effect of transferring a net capital loss

SECTION 170-110   When a company can transfer a net capital loss  

170-110(1)    
A company (the loss company ) can transfer an amount of its *net capital loss for an income year (the capital loss year ) to another company (the gain company ) if the conditions in this Subdivision are met.

170-110(2)    
The amount transferred can be the whole or part of the *net capital loss.

Note:

A PDF cannot transfer a net capital loss, except one for a period before it became a PDF: see section 195-30 of the Income Tax Assessment Act 1997 .



 

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