Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section affects the calculation of your offset limit for an income year under section 770-75 of the 1997 Act.
(2) This section applies for an income year if you have deducted an amount of the foreign loss component of one or more tax losses (see section 770-25) in the income year.
(3) In working out the amount referred to in subparagraph 770-75(2)(b)(ii) of the 1997 Act for the year, you must assume (in addition to the assumptions set out in subsection 770-75(4) of that Act), that you were not entitled to any deductions covered by subsection (2).
Table of sections 770-80 Transferred losses
taken not to be refreshed for purposes of converting overall foreign loss 770-85 Deduction limit not to restrict transfer
of losses 770-90 Transfer of losses not
restricted where part of trial year occurs before commencement year 770-95 Foreign loss component and starting total
retained after transfer to head company 770-100 Limit where
foreign loss component utilised by joining entity 770-105
Modified operation of Subdivision 707-C of the 1997 Act for foreign loss
component 770-110 Application of Subdivision to MEC groups
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