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INCOME TAX ASSESSMENT ACT 1997 - SECT 26.80

Financing costs on loans to pay superannuation contribution

  (1)   You can only deduct under this Act a * financing cost connected with a contribution you make to a * superannuation plan if you can deduct the contribution under Subdivision   290 - B.

  (2)   A financing cost connected with a contribution is expenditure incurred to the extent that it relates to obtaining finance to make the contribution, including:

  (a)   interest, and payments in the nature of interest; and

  (b)   expenses of borrowing.


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