Taxation Laws Amendment Act (No. 5) 2003 (142 of 2003)
Schedule 8 Tax losses
Income Tax Assessment Act 1997
8 Subsection 36-15(1)
Repeal the subsection, substitute:
(1) Your *tax loss for a *loss year is deducted in a later income year as follows if you are not a *corporate tax entity at any time during the later income year.
Note: See section 36-17 for the deduction of a tax loss of an entity that is a corporate tax entity at any time during the later income year.
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