Income Tax Assessment Act 1997

CHAPTER 1 - INTRODUCTION AND CORE PROVISIONS  

PART 1-3 - CORE PROVISIONS  

Division 8 - Deductions  

SECTION 8-5   Specific deductions  

8-5(1)    
You can also deduct from your assessable income an amount that a provision of this Act (outside this Division) allows you to deduct.

8-5(2)    
Some provisions of this Act prevent you from deducting an amount that you could otherwise deduct, or limit the amount you can deduct.

8-5(3)    
An amount that you can deduct under a provision of this Act (outside this Division) is called a specific deduction .

Note:

If you receive an amount as insurance, indemnity or other recoupment of a deductible expense, the amount may be included in your assessable income: see Subdivision 20-A .

For a summary list of provisions about deductions, see section 12-5 .