CTA09/S663, 664

Carry back of capital losses – computation

The carry-back operates by defining two amounts:

the net amount of CTA09/S641 losses for the loss period, and

the net amount of CTA09/S641 gains for the gain period.

To work out the net amount of S641 losses for a loss period, you aggregate all of the capital losses from the company's derivative contracts for the period, and similarly aggregate all of the chargeable gains. If the total capital losses exceed the total gains, the excess is the net amount of S641 losses.

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