Income Tax Assessment Act 1997
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-5
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RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS
Division 25
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Some amounts you can deduct
You can deduct a payment you make for membership of a trade, business or professional association.
However, $42 is the maximum amount you can deduct under this section for the payments that you make in the income year to any one association. If you deduct under section 8-1 25-55(3)
If you deduct a payment under section 8-1 (which is about general deductions) instead of this section:
(a) the payment does not count towards the $42 limit; and
(b) the amount that you can deduct for the payment is not limited to $42.
Operative provisions
SECTION 25-55
Payments to associations
25-55(1)
You can deduct a payment you make for membership of a trade, business or professional association.
Note:
Alternatively, you can deduct the expense under section 8-1 (which is about general deductions) if you satisfy the requirements of that section.
Maximum amount - $42 25-55(2)However, $42 is the maximum amount you can deduct under this section for the payments that you make in the income year to any one association. If you deduct under section 8-1 25-55(3)
If you deduct a payment under section 8-1 (which is about general deductions) instead of this section:
(a) the payment does not count towards the $42 limit; and
(b) the amount that you can deduct for the payment is not limited to $42.
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