Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p6
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 6/79)
Character Range: 4845109–4847961

towards a loss transferred under this Subdivision (see subsections 310‑55(1), 310‑60(3), 310‑65(1) and 310‑70(1)).
 (2) For a choice under section 310‑15 (life insurance companies), work out those losses by only considering the following to the extent that they relate to assets reasonably attributable to a *complying superannuation life insurance policy issued by the transferring entity and held by the original fund:
 (a) *capital gains from *complying superannuation assets;
 (b) *capital losses from complying superannuation assets;
 (c) assessable income covered by subsection 320‑137(2) (about complying superannuation assets);
 (d) deductions covered by subsection 320‑137(4) (about complying superannuation assets).
 (3) For a choice under section 310‑20 (pooled superannuation trusts), work out those losses by only considering *capital gains, *capital losses, assessable income and deductions to the extent that they relate to assets reasonably attributable to units in the transferring entity held by the original fund.

310‑35  Effect of transferring a net capital loss
 (1) To the extent that an earlier year net capital loss is transferred to a receiving entity:
 (a) the transferring entity is taken not to have made the loss for that earlier income year; and
 (b) an amount equal to the transferred amount is taken to be:
 (i) if the receiving entity is a *life insurance company—a *capital loss from *complying superannuation assets made by the receiving entity for the transfer year; and
 (ii) otherwise—a capital loss made by the receiving entity for the transfer year.
 (2) To the extent that a transfer year net capital loss is transferred to a receiving entity:
 (a) if the transferring entity is a *life insurance company—the sum of the transferring entity's *capital losses from *complying superannuation assets for the transfer year is reduced by an amount equal to the transferred amount; and
 (b) if the transferring entity is not a life insurance company—the sum of the transferring entity's capital losses for the transfer year is reduced by an amount equal to the transferred amount; and
 (c) if the receiving entity is a life insurance company—an amount equal to the transferred amount is taken to be a capital loss from complying superannuation assets made by the receiving entity for the transfer year; and
 (d) if the receiving entity is not a life insurance company—an amount equal to the transferred amount is taken to be a capital loss made by the receiving entity for the transfer year.

310‑40  Effect of transferring a tax loss
 (1) To the extent that an earlier year tax loss is transferred to a receiving entity:
 (a) the transferring entity is taken not to have incurred the loss for that earlier income year; and
 (b) for the purposes of section 36‑15, an amount equal to the transferred amount is taken to