Commonwealth Consolidated Acts

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 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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