Document ID: chunk:federal_register_of_legislation:C2010C00406:clause:4_4
Version: federal_register_of_legislation:C2010C00406
Segment Type: clause
Provision Reference: sch 4 cl 4
Character Range: 72081–73011

4  At the end of Subdivision 707‑D
Add:

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 ...