Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_1:p9
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 9/9)
Character Range: 26853–27805

into it;

                                                                                              a tax benefit is obtained from its available net capital losses or current year capital losses;

                                                                                              a tax benefit is obtained because of its available capital gains;

                                                                                             the Commissioner can disallow its net capital losses or current year capital losses, and it may have to work out its net capital loss in a special way.
  7                                                       A company                          A company can transfer a surplus amount of its net capital loss to another company so that the other company can apply the amount in the income year of the transfer. (Both companies must be members of the same wholly‑owned group.)  Subdivision 170‑B