INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision A - General  

SECTION 61   PROPERTY USED PARTLY FOR PRODUCING ASSESSABLE INCOME  

61(1)   [Allowable deductions]  

Where the use of any property by the taxpayer has been only partly for the purpose of producing assessable income, only such part of the deduction otherwise allowable under section 54 or section 59 in respect of that property as in the opinion of the Commissioner is proper shall be an allowable deduction.

61(2)   [Tax exempt entities]  

This section has effect subject to section 61A .