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 26-26   Non-share distributions and dividends  

26-26(1)  
A company cannot deduct under this Act:


(a) a * non-share distribution; or


(b) a return that has accrued on a * non-share equity interest.

26-26(2)  
A company cannot deduct a * dividend paid on an * equity interest in the company as a * general deduction under this Act.


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