INCOME TAX ASSESSMENT ACT 1997

CHAPTER 5 - ADMINISTRATION  

PART 5-30 - RECORD-KEEPING AND OTHER OBLIGATIONS  

Division 900 - Substantiation rules  

Subdivision 900-E - Written evidence  

Operative provisions

SECTION 900-125   Evidence of small expenses  

900-125(1)  
If your expense is small, and you have a small total of small expenses, you can make a record of the expenses instead of getting a document from the supplier.

900-125(2)  
Each expense must be $10 or less, and the total of all your expenses that:


(a) are each $10 or less; and


(b) you incurred in the income year and wish to deduct; and


(c) you must get written evidence for under this Division;

must be $200 or less. These limits can be increased from time to time by regulations made under section 909-1 .

900-125(3)  


If the expense is not the decline in value of a *depreciating asset, you must get a document with the same information as required by section 900-115 , except that you may create the document and record all the details yourself. You must do so as soon as possible after incurring the expense.

900-125(4)  


If the expense is the decline in value of a *depreciating asset, you must, as soon as possible after the last day of the income year, record in a document the following:


(a) the nature of the property;


(b) the amount of the decline in value;


(c) who made the record;


(d) the day the record is made.

900-125(5)  
A record must be in English.


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