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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 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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