(c) Caleb and Samuel each own 50% of the shares in Co X. The company incurred tax losses of $80,000 for the year ended 31 March 2018. On 1 April 2018 Caleb and Samuel sell half of their shareholding to Amelia and Jane so that the shares in Co X are now owned by the four individuals equally (25% each). The company derives net income of $100,000 for the year ended 31 March 2019. Can the losses of $80,000 be carried forward and offset against the net income for the 2019 income year?