Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p41
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 41/48)
Character Range: 329088–331888

previously transferred under Subdivision 707‑A of the Income Tax Assessment Act 1997
  If 2 or more losses that a company can transfer for an income year under Subdivision 170‑A of the Income Tax Assessment Act 1997 were previously transferred to it under Subdivision 707‑A of that Act, it must transfer first those losses (if any) covered by subsection 707‑350(1).

Subdivision 170‑B—Transfer of net capital losses within certain wholly‑owned groups of companies

Table of sections
170‑101 Application of Subdivision 170‑B of the Income Tax Assessment Act 1997
170‑145 Special rules affecting utilisation of losses in a bundle do not affect the amount of a net capital loss that can be transferred
170‑155 Ordering rule for losses previously transferred under Subdivision 707‑A of the Income Tax Assessment Act 1997

170‑101  Application of Subdivision 170‑B of the Income Tax Assessment Act 1997
  Subdivision 170‑B of the Income Tax Assessment Act 1997 (about transfer of net capital losses within wholly‑owned groups of companies) applies to assessments for the 1998‑99 income year and later income years.

170‑145  Special rules affecting utilisation of losses in a bundle do not affect the amount of a net capital loss that can be transferred
  In working out an amount under subsection 170‑145(7) of the Income Tax Assessment Act 1997 (which may limit the amount of a net capital loss that can be transferred under Subdivision 170‑B of that Act), disregard these sections of this Act:
 (a) section 707‑325 (which lets the available fraction for a bundle of losses be greater than it would otherwise be);
 (b) section 707‑327 (which effectively lets the available fraction relevant to the utilisation of a loss be chosen in some cases);
 (c) section 707‑350 (which sets the limit on utilising certain losses in a bundle).

170‑155  Ordering rule for losses previously transferred under Subdivision 707‑A of the Income Tax Assessment Act 1997
  If 2 or more losses that a company can transfer for an income year under Subdivision 170‑B of the Income Tax Assessment Act 1997 were previously transferred to it under Subdivision 707‑A of that Act, it must transfer first those losses (if any) covered by subsection 707‑350(1).

Subdivision 170‑C—Provisions applying to both transfers of tax losses and transfers of net capital losses within wholly‑owned groups of companies

Table of sections
170‑220 Direct and indirect interests in the loss company
170‑225 Direct and indirect interests in the gain company

170‑220  Direct and indirect interests in the loss company
  Any reduction in the cost base and reduced cost base of a share or in the reduced cost base of a debt that has been made or is required to be made under former subsection 160ZP(13) of the Income Tax Assessment Act 1936 (as that