Income Tax Assessment Act 1997
To the extent that you incur a loss or outgoing in respect of providing * entertainment, you cannot deduct it under section 8-1 . However, there are exceptions, which are set out in Subdivision 32-B .
Under section 8-1 you can deduct a loss or outgoing that you incur for the purpose of producing assessable income.
If you have used your property in providing entertainment, you may not be able to deduct an amount for the property: see section 32-15.
Section 32-75 deals with arrangements to avoid the operation of this section.