A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 110.5 Transfers of tax losses and net capital losses
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).