Document ID: chunk:federal_register_of_legislation:C2010C00605:clause:12_11
Version: federal_register_of_legislation:C2010C00605
Segment Type: clause
Provision Reference: sch 12 cl 11
Character Range: 161344–162171

11  At the end of section 170‑55
Add:

 (3) If:
 (a) the *loss company has 2 or more *tax losses, or 2 or more *film losses, it can transfer for the *deduction year; and
 (b) it incurred at least one of those losses apart from Subdivision 707‑A and at least one of those losses because of a transfer under that Subdivision;
it can transfer under this Subdivision the losses it incurred because of a transfer under Subdivision 707‑A only after transferring under this Subdivision the losses it incurred apart from that Subdivision.

 (4) For the purposes of subsection (3), treat a loss incurred by the company both apart from that Subdivision and because of a transfer under that Subdivision as a loss incurred because of a transfer under that Subdivision.

 (5) Subsections (1) and (2) have effect subject to subsection (3).