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.