Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 830.55

    If:

  (a)   the sum of a partner's * capital losses from * CGT events happening during an income year in relation to a * foreign hybrid or * CGT assets of a foreign hybrid;

exceeds:

  (b)   the sum of the partner's * capital gains from CGT events happening during the income year in relation to the foreign hybrid or CGT assets of the foreign hybrid;

the partner has a foreign hybrid net capital loss amount in respect of the foreign hybrid for the income year equal to the excess.