Document ID: chunk:federal_register_of_legislation:C2025C00014:section:177f:p4
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 177F (pt 4/7)
Character Range: 1649974–1652373

the case may be, as a deduction to the relevant taxpayer in relation to that year of income; and
 (ii) it is fair and reasonable that that amount or a part of that amount should be allowable as a deduction to the relevant taxpayer in relation to that year of income;
  determine that that amount or that part, as the case may be, should have been allowed or shall be allowable, as the case may be, as a deduction to the relevant taxpayer in relation to that year of income; or
 (c) if, in the opinion of the Commissioner:
 (i) a capital loss would have been incurred by the relevant taxpayer during a year of income if the scheme had not been entered into or carried out, being a capital loss that was not incurred or would not, but for this subsection, be incurred, as the case may be, by the relevant taxpayer during that year of income; and
 (ii) it is fair and reasonable that the capital loss or a part of that capital loss should be incurred by the relevant taxpayer during that year of income;
  determine that the capital loss or the part, as the case may be, should be incurred by the relevant taxpayer during that year of income; or
 (ca) if, in the opinion of the Commissioner:
 (i) an amount would have been allowed, or would be allowable, to the relevant taxpayer as a loss carry back tax offset if the scheme had not been entered into or carried out, being an amount that was not allowed or would not, apart from this subsection, be allowable, as the case may be, as a loss carry back tax offset to the relevant taxpayer; and
 (ii) it is fair and reasonable that the amount, or a part of the amount, should be allowable as a loss carry back tax offset to the relevant taxpayer;
  determine that that amount or that part, as the case may be, should have been allowed or is allowable, as the case may be, as a loss carry back tax offset to the relevant taxpayer; or
 (d) if, in the opinion of the Commissioner:
 (i) an amount would have been allowed, or would be allowable, to the relevant taxpayer as a foreign income tax offset if the scheme had not been entered into or carried out, being an amount that was not allowed or would not, apart from this subsection, be allowable, as the case may be, as a foreign income tax offset to the relevant taxpayer; and
 (ii) it is fair and reasonable that the amount, or a part of the amount, should be allowable as a foreign income tax offset to