Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p31
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 74543–77210

this definition - the amount by which that previous
overall 160Z gain exceeds the amount so applied under that
subsection;
  'overall 160Z loss', in relation to a class of assessable
income, means the amount by which the total ordinary 160Z gain
amount for that class is less than the total ordinary 160Z loss
amount for that class;

  'prior year Part IIIA loss', in relation to a year of income
(the 'loss year'), means the amount (if any) by which the sum
of:
  (a) the total of the overall 160Z losses for all the classes
of assessable income for the loss year; and
  (b) any prior year Part IIIA loss calculated under this
definition for the year of income immediately preceding the
loss year;
exceeds the total of the overall 160Z gains (before any
application of section 124ZZB) for all the classes of
assessable income;
  'residual overall 160Z gain' means so much of an overall 160Z
gain as remains after the application of subsection 124ZZB(2);
  'SME assessable income' has the meaning given by Subdivision
B;
  'SME investment' means an investment other than an
unregulated investment;
  'total ordinary 160Z gain amount', in relation to a class of
assessable income, means the total of so much of any ordinary
160Z gains amounts as has been allocated to that class under
section 124ZZA;
  'total ordinary 160Z loss amount', in relation to a class of
assessable income, means the total of so much of any ordinary
160Z loss amounts as has been allocated that class under
section 124ZZA;
  'unregulated investment' has the same meaning as in the
Pooled Development Funds Act 1992.
Companies to which this Subdivision applies
  "124ZX. This Subdivision applies to a company in relation to
a year of income if:
  (a) the company is a PDF throughout the year of income; or
  (b) the company becomes a PDF during the year of income and
is still a PDF at the end of the year of income.
Classes of assessable income
Classes
  "124ZY. (1) The classes of assessable income of the company
are as follows:
  (a) SME assessable income (see section 124ZT);
  (b) other assessable income (see subsection (2)).
Other assessable income
  "(2) The company's other assessable income of the year of
income is the sum of:
  (a) so much of the company's non-CGT assessable income of the
year of income as is not included in the company's SME
assessable income of the year of income; and
  (b) any assessable income allocated to the company's other
assessable income under section 124ZZB.
Section 160ZO does not apply
  "124ZZ. Nothing is to be included in the company's assessable
income of the year of income under section 160ZO.
Allocation of gain amounts and loss amounts to