s 880-10
In forceCertain amounts of sovereign entity in respect of a scheme are not deductible if covered by a private ruling
Chapter 4International aspects of income tax
Part 4-5General
Division 880Sovereign entities and activities
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.
Research tools for this sectionPro
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.