Income Tax Assessment Act 1997
View history note
Hide history noteIf:
(a) an entity chooses to transfer:
(i) under section 417-50 , an entitlement to deductions; or
(ii) under Subdivision 417-D , an amount of a *tax loss for an income year; and
(b) another entity *holds, either directly or indirectly, a *membership interest in that entity:
disregard a *capital loss from a *CGT event that arises in relation to the membership interest after the transfer takes effect, except to the extent that the entity can demonstrate that the loss is attributable to a matter other than the transfer.
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