Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 32 - Entertainment expenses  

Subdivision 32-B - Exceptions  

SECTION 32-20  

32-20   The main exception - fringe benefits  

Section 32-5 does not stop you deducting a loss or outgoing to the extent that you incur it in respect of providing ^* entertainment by way of ^* providing a ^* fringe benefit.

But this exception does not apply to the extent that the taxable value of the ^* fringe benefit is reduced under section 63A of the Fringe Benefits Tax Assessment Act 1986.

Note 1:

You may be able to deduct losses or outgoings that are fringe benefits under section 51AEA , 51AEB or 51AEC of the Income Tax Assessment Act 1936 . If you do, then you cannot deduct them under section 8-1 (about general deductions) and so this section is not relevant.

Note 2:

There are other exceptions for a loss or outgoing you incur in providing a benefit that would be a fringe benefit if it were not an exempt benefit: see items 1.6 and 1.7 of the table in section 32-30.