Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 170.145

    In working out an amount under subsection   170 - 145(7) of the Income Tax Assessment Act 1997 (which may limit the amount of a net capital loss that can be transferred under Subdivision   170 - B of that Act), disregard these sections of this Act:

  (a)   section   707 - 325 (which lets the available fraction for a bundle of losses be greater than it would otherwise be);

  (b)   section   707 - 327 (which effectively lets the available fraction relevant to the utilisation of a loss be chosen in some cases);

  (c)   section   707 - 350 (which sets the limit on utilising certain losses in a bundle).