Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 110.38

  (1)   Expenditure does not form part of any element of the cost base to the extent that section   26 - 54 prevents it being deducted (even if some other provision also prevents it being deducted).

Note:   Section   26 - 54 prevents deductions for expenditure related to certain offences.

  (2)   Expenditure does not form part of any element of the cost base to the extent that it is a * bribe to a foreign public official or a * bribe to a public official.

  (3)   Expenditure does not form part of any element of the cost base to the extent that it is in respect of providing * entertainment.

  (4)   Expenditure does not form part of any element of the cost base to the extent that section   26 - 5 prevents it being deducted (even if some other provision also prevents it being deducted).

Note:   Section   26 - 5 denies deductions for penalties.

  (4A)   Expenditure does not form part of any element of the cost base to the extent that section   26 - 31 prevents it being deducted.

Note:   Section   26 - 31 denies deductions for travel related to the use of residential premises as residential accommodation.

  (5)   Expenditure does not form part of any element of the cost base to the extent that section   26 - 47 prevents it being deducted.

Note:   Section   26 - 47 denies deductions for the excess of boat expenditure over boat income.

  (6)   Expenditure does not form part of any element of the cost base to the extent that section   26 - 22 prevents it being deducted.

Note:   Section   26 - 22 denies deductions for political contributions and gifts.

  (7)   Expenditure does not form any part of any element of the cost base to the extent that section   26 - 97 prevents it being deducted (even if some other provision also prevents it being deducted).

Note:   Section   26 - 97 denies deductions for National Disability Insurance Scheme expenditure.

  (8)   Expenditure does not form part of any element of the cost base to the extent that section   26 - 100 prevents it being deducted.

Note:   Section   26 - 100 denies deductions for certain expenditure on water infrastructure improvements.

  (9)   Expenditure does not form part of any element of the cost base to the extent that a provision of Division   832 (about hybrid mismatch rules) prevents it being deducted.