A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

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 - 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).


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.