Document ID: chunk:federal_register_of_legislation:C2014C00672:clause:6_54
Version: federal_register_of_legislation:C2014C00672
Segment Type: clause
Provision Reference: sch 6 cl 54
Character Range: 77383–77814

54  Section 36‑25 (table dealing with tax losses of VCLPs, ESVCLPs, AFOFs and VCMPs, item 1)
Repeal the item, substitute:

1.  A limited partnership that has a tax loss becomes a VCLP, an ESVCLP, an AFOF or a VCMP: it cannot:   Subdivision 195‑B

    (a) deduct the loss while it is a VCLP, an ESVCLP, an AFOF or a VCMP; or

    (b) carry back the loss to an income year in which it was not a VCLP, an ESVCLP, an AFOF or a VCMP.