Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 20.30

Tables of deductions for which recoupments are assessable

  (1)   This table shows the deductions under the Income Tax Assessment Act 1997 for which recoupments are assessable.

Note:   References are to section numbers except where otherwise indicated.

 

Provisions of the Income Tax Assessment Act 1997

Item

Provision

Description of expense

1.1

8 - 1 (so far as it allows you to deduct a bad debt, or part of a debt that is bad)

bad debts

1.2

8 - 1 (so far as it allows you to deduct rates or taxes)

rates or taxes

1.3

25 - 5

tax - related expenses

1.4

25 - 35

bad debts

1.5

25 - 45

embezzlement or larceny by an employee

1.5A

25 - 47

misappropriation by an employee or agent

1.6

25 - 60

election expenses, Commonwealth and State elections

1.6A

25 - 65

election expenses, local governing body

1.7

25 - 75

rates and land taxes on premises used to produce mutual receipts

1.8

The former 25 - 80

upgrading assets to meet GST obligations etc.

1.8A

25 - 95

work in progress amount

1.8B

item   7 of the table in section   30 - 15

contributions relating to fund - raising events

1.8C

item   8 of the table in section   30 - 15

contributions relating to fund - raising auctions

1.9

Division   40

capital allowances

1.10

The former Division   42 (as it applied to * software because of the former Subdivision   46 - B)

expenditure on software

1.11

The former Subdivision   46 - C

expenditure on software

1.12

The former Subdivision   46 - D

expenditure on software, pooled

1.13

The former Division   42 (as it applied to * IRUs because of Division   44)

expenditure on IRUs

1.14

The former 330 - 15

exploration or prospecting expenditure

1.15

The former 330 - 80

allowable capital expenditure relating to mining or quarrying

1.16

The former 330 - 350

petroleum resource rent tax

1.17

The former 330 - 370

transport capital expenditure relating to mining or quarrying

1.18

The former 330 - 435

rehabilitation expenditure relating to mining or quarrying

1.19

The former 330 - 485

balancing adjustment deduction for expenditure relating to mining or quarrying

1.19A

Division   355

R&D

1.20

The former Subdivisions   380 - A and 380 - C

capital expenditure incurred in obtaining a spectrum licence

1.21

The former Subdivision   387 - A

landcare operations expenditure

1.22

The former Subdivision   387 - B

expenditure on facilities to conserve or convey water

1.23

The former Subdivision   387 - D

grapevine establishment expenditure

1.24

The former Subdivision   387 - C

horticultural plant establishment expenditure

1.25

The former Subdivision   387 - E

mains electricity connection expenditure

1.26

The former Subdivision   400 - A

expenditure on environmental impact assessment

1.27

The former Subdivision   400 - B

expenditure on environmental protection activities

1.27A

420 - 15

registered emissions unit

1.28

775 - 30

forex realisation loss

  (2)   This table shows the deductions under the Income Tax Assessment Act 1936 for which recoupments are assessable.

Note:   References are to section numbers except where otherwise indicated.

 

Provisions of the Income Tax Assessment Act 1936

Item

Provision

Description of expense

2.1

Former 51(1) (so far as it allowed you to deduct a bad debt, or part of a debt that is bad)

bad debts

2.2

Former 51(1) (so far as it allowed you to deduct rates or taxes)

rates or taxes

2.3

63

bad debts

2.4

Former 69

tax - related expenses

2.5

Former 70A(3)

mains electricity connection expenditure

2.6

Former 71

embezzlement or larceny by an employee

2.7

Former 72

rates and land tax

2.7A

Former 72A

a payment of petroleum resource rent tax, or an instalment of petroleum resource rent tax, or a credit under paragraph   99(d) of the Petroleum Resource Rent Tax Assessment Act 1987 in respect of a payment of such an instalment

2.8

Former 73B, 73BA or 73BH

research and development activity expenditure

2.9

Former 74

election expenses, Commonwealth and State elections

2.9A

Former 74A

election expenses, local governing body

2.10

Former 75AA(1) or (6)

grape vine establishment expenditure

2.11

Former 75B(2) or (3A)

water conservation or conveyance expenditure

2.12

Former 75D(2)

land degradation prevention expenditure

2.13

Former 82AB

development allowance expenditure

2.14

Former 82BB

environmental impact study expenditure

2.15

Former 82BK

environmental protection expenditure

2.17

Former Division   10 of Part   III

mining and quarrying expenditure

2.18

Former Division   10AAA of Part   III

expenditure on transport of minerals and quarry materials

2.19

Former Division   10AA of Part   III

expenditure on prospecting and mining for petroleum

2.20

Former 124BA

expenditure on rehabilitating mining, quarrying and petroleum sites

2.21

Former 124ZZF

horticultural plant establishment expenditure (effective life of the plant less than 3 years)

2.22

Former 124ZZG

horticultural plant establishment expenditure (effective life of the plant more than 3 years)

2.23

Former 628

drought mitigation property expenditure by a primary producer

2.24

Former 636

drought mitigation property expenditure by a leasing company



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