Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 770.15

                   Section 770-30 does not apply in relation to a tax loss an entity is taken by section 770-1 to have if:

                     (a)  the amount worked out under section 770-20 (the starting total ) is less than or equal to $10,000; or

                     (b)  the entity chooses to reduce one or more tax losses the entity is taken by section 770-1 to have had so that the starting total equals $10,000.