Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

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

Division 26 - Some amounts you cannot deduct, or cannot deduct in full  

Operative provisions  

SECTION 26-100   Expenditure attributable to water infrastructure improvement payments  

26-100(1)    
You cannot deduct under this Act * SRWUIP expenditure if the matching * SRWUIP payment is, or is reasonably expected to be, * non-assessable non-exempt income (whether for you or for another entity) under section 59-65.

26-100(2)    
SRWUIP expenditure , in respect of a * SRWUIP program, is expenditure that:

(a) you incur that satisfies an obligation under an * arrangement under the program; and

(b) is, or is reasonably expected to be, matched by a * SRWUIP payment in respect of the program.

26-100(3)    
However, treat the expenditure as if it had never been SRWUIP expenditure if it is no longer reasonable to expect that the expenditure will be matched by a * SRWUIP payment in respect of the program.