Document ID: chunk:federal_register_of_legislation:C2010C00584:clause:6_34
Version: federal_register_of_legislation:C2010C00584
Segment Type: clause
Provision Reference: sch 6 cl 34
Character Range: 106146–106678

34  At the end of Subdivision 707‑C
Add:

707‑355  Ignore certain losses in working out when a choice can be made under this Subdivision

  In working out when a choice may be made under subsection 707‑325(5), 707‑327(5), 707‑328A(4) or 707‑350(5), ignore losses to which section 713‑535 of the Income Tax Assessment Act 1997 applies.

Note: That section deals with losses transferred under Subdivision 707‑A of that Act from certain wholly‑owned subsidiaries of life insurance companies that are members of a consolidated group.