Income Tax Assessment Act 1936
(a) an amount is included in the assessable income of a taxpayer of a year of income by section 102-5 of the Income Tax Assessment Act 1997 (about net capital gains) or subsection 124ZZB(1) of this Act (about notional capital gains of PDFs);
(b) a deduction would, but for this section, be allowable under a provision listed in the table in subsection (2) to the taxpayer; and
(c) if the amount had not been included in the assessable income the deduction would not be allowable;
the deduction is not allowable.
The table lists provisions allowing deductions that are affected by subsection (1). Provisions of the Income Tax Assessment Act 1997 are identified in normal text. The other provisions, in bold , are provisions of the Income Tax Assessment Act 1936 .
|Deduction provisions affected by net capital gains limit|
|1||Subdivision A of Division 3 of Part III||General|
|2||section 8-1||General deductions|
|3||Division 25||Some expenses you can deduct|
|4||Division 30||Gifts or contributions|
|5||Division 34||Non-compulsory uniforms|
|6||Division 36||Tax losses of earlier income years|
|7||Subdivision 40-F||Facilities to conserve or convey water|
|8||Subdivision 40-F||Establishing grapevines|
|9||Subdivision 40-G||Landcare operations|
|10||Subdivision 40-G||Mains electricity supply|
|11||Subdivision 40-G||Telephone lines|
|12||Division 165||Income tax consequences of changing ownership or control of a company|
|13||Subdivision 170-A||Transfer of tax losses within wholly-owned groups of companies|
|14||Division 230||Financial arrangements|
S 51 to 51AB repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 items 65 and 66, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive . Remade versions of subsections 51(8) and (9), which are repealed by the above item, are included in the Income Tax Assessment Act 1997 s 26-90 and 26-95 . S 51AC was repealed in 1989 and has also been archived.
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