INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 880 - Sovereign entities and activities  

SECTION 880-10   880-10   Certain amounts of sovereign entity in respect of a scheme are not deductible if covered by a private ruling  


A sovereign entity cannot deduct an amount for an income year if:


(a) the amount is a loss in respect of an investment asset under a scheme; and


(b) the requirements in paragraphs 880-5(b) to (g) are satisfied.




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