Section IQ 1B — Income Tax Act 2007: Losses carried forward to tax year

IQ 1B Losses carried forward to tax year An attributed CFC net loss or a FIF net loss or both may be carried forward to a tax year. Section IA 5 (Restrictions on companies' loss balances carried forward) applies for the purposes of this subpart as if the net loss were a tax loss component. Defined in this Act: attributed CFC net loss , FIF net loss , tax loss component , tax year Section IQ 1B: inserted (with effect on 1 April 2008), on 7 December 2009, by section 61(1) of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63).