9.    Assessed capital loss

 

A person’s assessed capital loss for a year of assessment, where that person has-

 

(a)     an aggregate capital gain for that year, is the amount by which that person’s assessed capital loss for the previous year of assessment exceeds the amount of that person’s aggregate capital gain for that year;

 

(b)     an aggregate capital loss for that year, is the sum of that person’s aggregate capital loss for that year and that person’s assessed capital loss for the previous year; or

 

(c)     neither an aggregate capital gain nor an aggregate capital loss for that year, is the amount of that person’s assessed capital loss for the previous year.