• Specific Year
    Any

INCOME TAX ASSESSMENT ACT 1997 - SECT 245.130 Remaining total net forgiven amount is applied in reduction of net capital losses

INCOME TAX ASSESSMENT ACT 1997 - SECT 245.130

Remaining total net forgiven amount is applied in reduction of net capital losses

  (1)   The * total net forgiven amount (if any) remaining after being applied under section   245 - 115 is applied, to the maximum extent possible, in reduction, in accordance with section   245 - 135, of your * net capital losses (if any) specified in subsection   (2).

  (2)   Those * net capital losses are your net capital losses for income years before the * forgiveness income year that you could apply in working out your * net capital gain for the forgiveness income year if you had enough capital gains.

Download

No downloadable files available