Document ID: chunk:federal_register_of_legislation:C2010C00584:clause:10_248
Version: federal_register_of_legislation:C2010C00584
Segment Type: clause
Provision Reference: sch 10 cl 248
Character Range: 150665–151557

248  Subsection 165‑115BB(2) (definition of previous capital losses, deductions or trading stock losses)
Repeal the definition, substitute:

previous capital losses, deductions or trading stock losses means the total of the following:
 (a) capital losses that the company made, deductions to which the company became entitled, or trading stock losses that the company made, as a result of events earlier than the relevant event in respect of assets that the company owned at the *changeover time;
 (b) each reduction that section 715‑105 (as applying to the company as the *head company of a *consolidated group or *MEC group) makes in respect of such an asset because an entity ceased before the time of the relevant event to be a *subsidiary member of the group (but counting only the greater or greatest such reduction if 2 or more are made for the same asset);
or nil if there are none.