Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p16
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 16/18)
Character Range: 7635440–7638115

penalty may not exceed a fine of 5 penalty units.
Note: Section 4AA of the Crimes Act 1914 deals with penalty units.

Chapter 6—The Dictionary

Part 6‑1—Concepts and topics

Division 950—Rules for interpreting this Act

Table of sections
950‑100 What forms part of this Act
950‑105 What does not form part of this Act
950‑150 Guides, and their role in interpreting this Act

950‑100  What forms part of this Act
 (1) These all form part of this Act:
• the headings of the Chapters, Parts, Divisions and Subdivisions of this Act;
• *Guides;
• the headings of the sections and subsections of this Act;
• the headings for groups of sections of this Act (group headings);
• the notes and examples (however described) that follow provisions of this Act.
 (2) The asterisks used to identify defined terms form part of this Act. However, if a term is not identified by an asterisk, disregard that fact in deciding whether or not to apply to that term a definition or other interpretation provision.

950‑105  What does not form part of this Act
  These do not form part of this Act:
 footnotes and endnotes;
 Tables of Subdivisions;
 Tables of sections.

950‑150  Guides, and their role in interpreting this Act
 (1) A Guide consists of:
 (a) sections under a heading indicating that what follows is a Guide to a particular Subdivision, Division etc.; or
 (b) a Subdivision, Division or Part that is identified as a Guide by a provision in the Subdivision, Division or Part.
 (2) Guides form part of this Act, but they are kept separate from the operative provisions. In interpreting an operative provision, a Guide may only be considered:
 (a) in determining the purpose or object underlying the provision; or
 (b) to confirm that the provision's meaning is the ordinary meaning conveyed by its text, taking into account its context in the Act and the purpose or object underlying the provision; or
 (c) in determining the provision's meaning if the provision is ambiguous or obscure; or
 (d) in determining the provision's meaning if the ordinary meaning conveyed by its text, taking into account its context in the Act and the purpose or object underlying the provision, leads to a result that is manifestly absurd or is unreasonable.

Division 960—General

Subdivision 960‑B—Utilisation of tax attributes

Table of sections
960‑20 Utilisation

960‑20  Utilisation
 (1) None of the following can be *utilised, to the extent it has already been utilised:
 (a) a *tax loss;
 (b) a *net capital loss;
 (c) *net exempt income.

Utilisation of losses
 (2) A *tax loss is utilised to the extent that:
 (a) it is deducted from an amount of assessable income or *net exempt income; or