Document ID: chunk:federal_register_of_legislation:C2025C00029:section:5:p6
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 5 (pt 6/6)
Character Range: 6036183–6037366

another loss of the same sort because of the circumstances that caused the head company to make the loss.
 (2) It does not matter whether the *head company makes the loss because of a transfer under Subdivision 707‑A (whether from the entity or another entity) or because of another provision.

707‑415  Application of losses with nil available fraction for certain purposes
 (1) Subsection (2) applies if:
 (a) an entity (the joining entity) becomes a *member of a *consolidated group at a time (the joining time); and
 (b) a *tax loss or a *net capital loss was transferred from the joining entity to the *head company of the group at the joining time under Subdivision 707‑A; and
 (c) that loss is included in a *bundle of losses for which the *available fraction is 0.
 (2) The *head company can choose to apply the loss as shown in the table:

Item  If ...                                                                                                                                                                                                                                        the head company can choose to apply the loss in reduction of ...  for the purposes of ...