Income Tax Assessment Act 1936
PART III
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LIABILITY TO TAXATION
Division 3
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Deductions
Subdivision A
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General
SECTION 82
82
DOUBLE DEDUCTIONS
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.
View history note
Hide history noteWhere 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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