Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-42 - PERSONAL SERVICES INCOME  

Division 86 - Alienation of personal services income  

Subdivision 86-B - Entitlement to deductions  

SECTION 86-60  

86-60   General rule for deduction entitlements of personal services entities  

A *personal services entity cannot deduct under this Act an amount to the extent that it relates to gaining or producing an individual's *personal services income, unless:

(a) the individual could have deducted the amount under this Act if the circumstances giving rise to the entity's entitlement to deduct the amount had applied instead to the individual; or

Note:

In particular, Division 85 specifies limits on an individual's entitlements to deductions relating to the individual's personal services income.

(b) the entity receives the individual's *personal services income in the course of conducting a *personal services business.