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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 102 - Assessable income includes net capital gain  

Operative provisions  

SECTION 102-15  

102-15  How to apply net capital losses  

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In working out if you have a *net capital gain, your *net capital losses are applied in the order in which you made them.

Note 1:

A net capital loss can be applied only to the extent that it has not already been utilised: see subsection 960-20(1).

Note 2:

For applying a net capital loss for the 1997-98 income year or an earlier income year, see section 102-15 of the Income Tax (Transitional Provisions) Act 1997.


 



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