INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 110 - Cost base and reduced cost base  

Subdivision 110-A - Cost base  

What does not form part of the cost base

SECTION 110-38   Exclusions  

110-38(1)  
Expenditure does not form part of any element of the cost base to the extent that section 26-54 prevents it being deducted (even if some other provision also prevents it being deducted).

Note:

Section 26-54 prevents deductions for expenditure related to certain offences.

110-38(2)  


Expenditure does not form part of any element of the cost base to the extent that it is a *bribe to a foreign public official or a *bribe to a public official.

110-38(3)  


Expenditure does not form part of any element of the cost base to the extent that it is in respect of providing *entertainment.

110-38(4)  


Expenditure does not form part of any element of the cost base to the extent that section 26-5 prevents it being deducted (even if some other provision also prevents it being deducted).
Note:

Section 26-5 denies deductions for penalties.

110-38(4A)  


Expenditure does not form part of any element of the cost base to the extent that section 26-31 prevents it being deducted.
Note:

Section 26-31 denies deductions for travel related to the use of residential premises as residential accommodation.

110-38(5)  


Expenditure does not form part of any element of the cost base to the extent that section 26-47 prevents it being deducted.
Note:

Section 26-47 denies deductions for the excess of boat expenditure over boat income.

110-38(6)  


Expenditure does not form part of any element of the cost base to the extent that section 26-22 prevents it being deducted.
Note:

Section 26-22 denies deductions for political contributions and gifts.

110-38(7)  


Expenditure does not form any part of any element of the cost base to the extent that section 26-97 prevents it being deducted (even if some other provision also prevents it being deducted).
Note:

Section 26-97 denies deductions for National Disability Insurance Scheme expenditure.

110-38(8)  


Expenditure does not form part of any element of the cost base to the extent that section 26-100 prevents it being deducted.
Note:

Section 26-100 denies deductions for certain expenditure on water infrastructure improvements.

110-38(9)  


Expenditure does not form part of any element of the cost base to the extent that a provision of Division 832 (about hybrid mismatch rules) prevents it being deducted.

View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.