s 36-105
In forceTax losses for 1989‑90 to 1996‑97 income years
Chapter 2Liability rules of general application
Part 2-5Rules about deductibility of particular kinds of amounts
Division 36Tax losses of earlier income years
36-105 Tax losses for 1989‑90 to 1996‑97 income years
(1)
If you incurred a loss for the purposes of section 79E (General domestic losses of 1989‑90 to 1996‑97 years of income) of the Income Tax Assessment Act 1936 in any of the 1989‑90 to 1996‑97 income years, the loss is your tax loss for that income year, which is called a loss year.
(2)
You can deduct the tax loss in the 1997‑98 or a later income year only to the extent that it has not already been deducted.
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