Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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 | |
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 | |
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 | |
1.28 | 775 - 30 | |
(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 |