INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

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

Division 25 - Some amounts you can deduct  

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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