http://classic.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s6.25.html WebIncome Tax Assessment Act 1997applies to an amount included in the second element of the cost of an asset as if a reference in that paragraphto $1,000: (a) were a reference to $20,000, if the amount is so included at any time: (i) at or after the 2015 budget time; and (ii) before the 2024 application time; or
Tax Basics - Program 16: Specific Deductions for Business
WebWhat constitutes an allowable deduction is governed by the general deduction provision, section 8-1 of Income Tax Assessment Act 1997 and other specific deduction provisions. This paper will focus on the general deduction provision section 8-1 considering the tests and principles that have been developed to assist in determining whether an amount is … WebITAA 1997 - The Core Provisions by Geoff Petersson, cgtTAXnet ... Section 8-1 and its accompanying provisions, section 8-5, and 8-10 have been reproduced for ease of … html shades of white
Tax Basics - Program 14: Business Deductions
Web11-5 Entities that are exempt, no matter what kind of ordinary or statutory income they have 42. 11-10 Ordinary or statutory income which is exempt, no matter whose it is.. 45. 11-15 … WebITAA 1997 s 8-1 (formerly ITAA 1936 subs 51(1)). From 1 July 2001-30 June 2005, however, small business taxpayers could elect to join the STS and adopt a cash basis for … Web13 Dec 2013 · However, no deduction is allowed under this section for expenses to the extent to which they are of a capital, private or domestic nature or incurred in gaining or producing exempt or non-assessable non-exempt income, or otherwise prevented from being deductible by a specific provision of section 8-1 of ITAA 1997. html sharepoint