Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 245-135 Allocation of remaining total net forgiven amount in respect of net capital losses 245-135(1)
You may choose:
(a) the order in which your *net capital losses are reduced; and
(b) the amount applied in reduction of each of those losses;
so long as the *total net forgiven amount remaining is applied, to the maximum extent possible, in reduction of those losses.
245-135(2)
If you do not make a choice for the purposes of subsection (1), the Commissioner may make the choice on your behalf in a reasonable way.
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