Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 26.26

  (1)   A company cannot deduct under this Act:

  (a)   a * non - share distribution; or

  (b)   a return that has accrued on a * non - share equity interest.

  (2)   A company cannot deduct a * dividend paid on an * equity interest in the company as a * general deduction under this Act.