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Edited version of private advice
Authorisation Number: 1052299735565
Date of advice: 5 September 2024
Ruling
Subject: Deductibility of payment
Summary
The Commissioner has issued a private ruling in relation to the deductibility of a payment which considered certain income tax provisions of the ITAA 1997 and the ITAA 1936.
Question 1
Is the taxpayer entitled to claim a deduction under section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997) in respect of the payment it made under the agreement?
Answer
No.