Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 102.15

    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 .