INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

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

Division 32 - Entertainment expenses  

Subdivision 32-D - In-house dining facilities (employer expenses table item 1.2)  

SECTION 32-70   $30 is assessable for each meal provided to non-employee in an in-house dining facility  

32-70(1)  
Your assessable income includes $30 for a meal you provide in an * in-house dining facility in the income year to an individual other than your employee, but only if:


(a) you incur a loss or outgoing in respect of providing the meal; and


(b) because of item 1.2 of the table in section 32-30 , section 32-5 does not stop you deducting the loss or outgoing under section 8-1 (which deals with general deductions); and


(c) the loss or outgoing is one that you can deduct under section 8-1 for the income year or some other income year.

32-70(2)  
However, you can choose not to include in your assessable income $30 for each meal you provide in the * in-house dining facility in the income year to an individual other than your employee.

Note:

If you do choose, you cannot rely on item 1.2 of the table in section 32-30 as a basis for deducting a loss or outgoing you incur in respect of providing a meal.

32-70(3)  
You must choose by the day you lodge your * income tax return for the income year, or within a further time allowed by the Commissioner.


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