Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If the * loss company has 2 or more * tax losses (other than * film losses) that it can transfer in the * deduction year, it can transfer them only in the order in which it incurred them.
(2) If the * loss company has 2 or more * film losses that it can transfer in the * deduction year, it can transfer them only in the order in which it incurred them.
(3) If:
(a) the * loss company has 2 or more * tax losses, or 2 or more * film losses, it can transfer for the * deduction year; and
(b) it incurred at least one of those losses apart from Subdivision 707 - A and at least one of those losses because of a transfer under that Subdivision;
it can transfer under this Subdivision the losses it incurred because of a transfer under Subdivision 707 - A only after transferring under this Subdivision the losses it incurred apart from that Subdivision.
(4) For the purposes of subsection (3), treat a loss incurred by the company both apart from that Subdivision and because of a transfer under that Subdivision as a loss incurred because of a transfer under that Subdivision.
(5) Subsections (1) and (2) have effect subject to subsection (3).