INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision A - General  

SECTION 64A   LEGAL EXPENSES  

64A(1A)   [No application 1997/98 income year onwards]  

This section does not apply to the 1997-98 year of income or a later year of income.

Note:

This section has no equivalent in the Income Tax Assessment Act 1997 . Legal expenses may be deductible under section 8-1 of that Act (about general deductions) or under other provisions.

64A(1)   [Definition]  

In this section, ``legal expenses'' means expenditure incurred by the taxpayer -

(a) for the services of a barrister or solicitor;

(b) for the registration or deposit in a public register or a public office, or the stamping, of a document; or

(c) in connection with proceedings before a court, board, commission or similar tribunal,

not being expenditure to which section 67 , section 67A , section 68 , section 68A or section 69 applies.

64A(2)   [Allowable deductions]  

Legal expenses incurred in the year of income in carrying on a business for the purpose of gaining or producing assessable income shall, except to the extent to which they are expenses of a private or domestic nature, be allowable deductions.

64A(3)   [Maximum deduction]  

The deduction allowable under this section shall not be greater than the amount (if any) by which $50 exceeds any amount allowable as a deduction under section 51 in respect of legal expenses.