Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:1_12
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 1 cl 12
Character Range: 12771–13532

12  Subsection 165‑115B(2)
Repeal the subsection, substitute:

Where capital loss or deduction is greater than residual unrealised net loss

 (2) If the *capital loss or deduction referred to in subparagraph 165‑115A(1)(c)(i) is greater than the company's residual unrealised net loss at the time of the occurrence of the event that resulted in the capital loss or entitled the company to the deduction:
 (a) the part of the capital loss that is equal to the residual unrealised net loss is taken to have been a *net capital loss; or
 (b) the part of the deduction that is equal to the residual unrealised net loss is taken to have been a *tax loss;
of the company for the income year immediately before the income year in which the changeover time occurred.