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INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 375.815
Deductibility of film losses
(1) You can deduct a *film loss only from your *net exempt film income or your
*net assessable film income.
(2) Your net assessable film income for an income year is your
*assessable film income for that year reduced by your *film deductions for
that year.
(3) This section applies in addition to the other rules about how
*tax losses are applied.
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