A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-2
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Special rules mainly about supplies and acquisitions
A supply is not a *taxable supply if the supply is:
(a) the transfer of a *tax loss in accordance with Subdivision 170-A of the *ITAA 1997; or
(b) the transfer of a *net capital loss in accordance with Subdivision 170-B of the ITAA 1997. (2)
This section has effect despite section 9-5 (which is about what are taxable supplies).
Note:
The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.
Division 110 - Tax-related transactions
Subdivision 110-A
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Income tax-related transactions
110-5
Transfers of tax losses and net capital losses
(1)
A supply is not a *taxable supply if the supply is:
(a) the transfer of a *tax loss in accordance with Subdivision 170-A of the *ITAA 1997; or
(b) the transfer of a *net capital loss in accordance with Subdivision 170-B of the ITAA 1997. (2)
This section has effect despite section 9-5 (which is about what are taxable supplies).
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