INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART III
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LIABILITY TO TAXATION
Division 3
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Deductions
Subdivision B
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Development allowance
SECTION 82AK
82AK
PRIVATE USE OF PROPERTY BY EMPLOYEES, ETC, OF PRIVATE COMPANY
Where property that was acquired or constructed, or taken on lease, by a taxpayer being a private company is used at any time for a private or domestic purpose by -
(a) an employee of the company;
(b) a director of the company;
(c) a member of the company; or
(d) a relative of a person referred to in paragraph (a), (b) or (c),
View history note
Hide history noteWhere property that was acquired or constructed, or taken on lease, by a taxpayer being a private company is used at any time for a private or domestic purpose by -
(a) an employee of the company;
(b) a director of the company;
(c) a member of the company; or
(d) a relative of a person referred to in paragraph (a), (b) or (c),
the property shall be deemed for the purposes of this Subdivision to have been used at that time by the company for a purpose other than the purpose of producing assessable income.
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