Document ID: chunk:federal_register_of_legislation:C2014C00672:clause:6_17
Version: federal_register_of_legislation:C2014C00672
Segment Type: clause
Provision Reference: sch 6 cl 17
Character Range: 70034–70545

17  Section 102‑15
Repeal the section, substitute:

102‑15  How to apply net capital losses
  In working out if you have a *net capital gain, your *net capital losses are applied in the order in which you made them.
Note 1: A net capital loss can be applied only to the extent that it has not already been utilised: see subsection 960‑20(1).
Note 2: For applying a net capital loss for the 1997‑98 income year or an earlier income year, see section 102‑15 of the Income Tax (Transitional Provisions) Act 1997.