INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision A - General  

SECTION 53   REPAIRS  

53(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:

Section 25-10 (Repairs) of the Income Tax Assessment Act 1997 deals with the deductibility of expenditure incurred on repairs.

53(1)   [Deduction allowable]  

Expenditure incurred by the taxpayer in the year of income for repairs, not being expenditure of a capital nature, to any premises, or part of premises, plant, machinery, implements, utensils, rolling stock, or articles held, occupied or used by him for the purpose of producing assessable income, or in carrying on a business for that purpose, shall be an allowable deduction.

53(2)   [Deduction not allowable]  

Expenditure incurred upon repairs to any premises or part of premises not so held, occupied or used shall not be an allowable deduction.

53(3)   [Extent of allowable deduction]  

Where the premises, part of premises, plant, machinery, implements, utensils, rolling stock or articles referred to in subsection (1) were held, occupied or used by the taxpayer only partly for the purpose of producing assessable income, or only partly in carrying on a business for that purpose, so much only of the expenditure that, but for this subsection, would be an allowable deduction under subsection (1) as, in the opinion of the Commissioner, is reasonable in the circumstances shall be an allowable deduction.