Income Tax Assessment Act 1936
SCHEDULE 2F
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TRUST LOSSES AND OTHER DEDUCTIONS
Division 270
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Schemes to take advantage of deductions
SECTION 270-20
270-20
BENEFIT
A benefit is:
(a) money, a dividend or property (whether tangible or intangible); or
(b) a right or entitlement (whether or not property); or
(c) services; or
(d) the extinguishment, forgiveness, release or waiver of a debt or other liability; or
(e) the doing of anything that results in the derivation of assessable income; or
(f) anything that, disregarding the preceding paragraphs, is a benefit or advantage.
View history note
Hide history noteA benefit is:
(a) money, a dividend or property (whether tangible or intangible); or
(b) a right or entitlement (whether or not property); or
(c) services; or
(d) the extinguishment, forgiveness, release or waiver of a debt or other liability; or
(e) the doing of anything that results in the derivation of assessable income; or
(f) anything that, disregarding the preceding paragraphs, is a benefit or advantage.
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