Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

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History

Div 3 heading inserted by No 172 of 1978.

Subdivision A - General  

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SECTION 82  

82   DOUBLE DEDUCTIONS  

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Where the profit arising from the sale of any property is included in the assessable income of any person, or where the loss arising from the sale is an allowable deduction, and any expenditure incurred by the person in connexion with that property has been allowed or is allowable as a deduction under this Act, that expenditure shall not be deducted in ascertaining the amount of the profit or loss.

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S 82(1A) and (1) repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 90, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .

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S 82 amended by No 41 of 2011, s 3 and Sch 5 Pt 27, by removing gender-specific language, effective 27 June 2011.

S 82 (formerly s 82(2)) amended by No 101 of 2006 , s 3 and Sch 2 items 254 to 255, by omitting " (2) " and " or has been allowed or is allowable as a deduction in assessments under the previous Act " after " under this Act " , effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

S 82(2) amended by No 93 of 1969.

Former s 82(3) omitted by No 107 of 1989 and amended by No 108 of 1981, No 51 of 1973, No 93 of 1969, No 60 of 1968, No 70 of 1959 and inserted by No 55 of 1958.

Former s 82(4) omitted by No 107 of 1989 and amended by No 108 of 1981, No 93 of 1969 and inserted by No 70 of 1959.

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