INCOME TAX ASSESSMENT ACT 1997 - SECT 719.315 Further adjustment of available fractions for all bundles

INCOME TAX ASSESSMENT ACT 1997 - SECT 719.315

  (1)   If, because of the application event:

  (a)   there is under section   719 - 305 an * available fraction for the * bundle of prior group losses; and

  (b)   section   719 - 310 affects the available fraction for one or more other bundles of losses;

this section affects the available fraction for every one of those bundles.

  (2)   The available fraction (as affected by section   719 - 305 or 719 - 310) is reduced by multiplying it by this fraction:

  (3)   For the purposes of working out the fraction in subsection   (2), use the value of an * available fraction for a * bundle of losses apart from:

  (a)   this section; and

  (b)   if item   5 of the table in subsection   707 - 320(2) would apply as a result of the calculation of the available fraction in accordance with section   719 - 305 or 719 - 310--that item.