Document ID: chunk:federal_register_of_legislation:C2010C00609:clause:4_1
Version: federal_register_of_legislation:C2010C00609
Segment Type: clause
Provision Reference: sch 4 cl 1
Character Range: 10812–11455

1  After subsection 375‑805(1)
Insert:

 (1A) If an entity's *tax loss is worked out under a provision listed in the table, the film component is what that tax loss would have been if:
 (a) the entity's *film deductions for the *loss year had been its only deductions; and
 (b) the entity's *assessable film income for the *loss year had been its only assessable income; and
 (c) the entity's *net exempt film income for the *loss year had been its only *net exempt income.
However, the film component cannot exceed the actual tax loss.

Working out film component of tax loss
Item                                    Provision  Type of entity