Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 5/79)
Character Range: 4842673–4845380

fund just after the earliest time when both the other fund and the original fund cease to have any members (within the meaning of that Act).

Ignore members who cannot transfer to a continuing fund
 (5) For the purposes of subsections (3) and (4), ignore an individual who remains a member of a *complying superannuation fund or *complying approved deposit fund because of circumstances beyond the control of the trustee of that fund.

Subdivision 310‑C—Consequences of choosing to transfer losses

Table of sections
310‑25 Who losses can be transferred to
310‑30 Losses that can be transferred
310‑35 Effect of transferring a net capital loss
310‑40 Effect of transferring a tax loss

310‑25  Who losses can be transferred to
  An entity choosing under Subdivision 310‑B to transfer losses can choose to transfer any or all of the transferring entity's losses set out in section 310‑30, in whole or in part, to one or more of the following entities (a receiving entity):
 (a) a continuing fund for the choice;
 (b) a *pooled superannuation trust in which units are held by a continuing fund for the choice just after the completion time;
 (c) a *life insurance company with which a *complying superannuation life insurance policy is held by a continuing fund for the choice just after the completion time.

310‑30  Losses that can be transferred
 (1) The transferring entity's losses that can be transferred are:
 (a) any of its *net capital losses for income years earlier than the income year for the transferring entity that includes the completion time (the transfer year), to the extent that it was not *utilised before the completion time (an earlier year net capital loss); and
 (b) any net capital loss it would have made for the transfer year were the transfer year to have ended at the completion time (a transfer year net capital loss); and
 (c) any of its *tax losses for income years earlier than the transfer year, to the extent that it was not utilised before the completion time (an earlier year tax loss); and
 (d) any tax loss it would have incurred for the transfer year were the transfer year to have ended at the completion time (a transfer year tax loss);
worked out subject to the modifications set out in this section.
Note: If the entity choosing to transfer losses also chooses an asset roll‑over under Subdivision 310‑D for the same arrangement, none of the transfer events for the roll‑over will contribute 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