Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

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Div 3 heading inserted by No 172 of 1978.

Subdivision A - General  

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SECTION 51AAA  

51AAA(1)   DEDUCTIONS NOT ALLOWABLE IN CERTAIN CIRCUMSTANCES  

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Where:

(a) an amount is included in the assessable income of a taxpayer of a year of income by section 102-5 of the Income Tax Assessment Act 1997 (about net capital gains) or subsection 124ZZB(1) of this Act (about notional capital gains of PDFs);

(b) a deduction would, but for this section, be allowable under a provision listed in the table in subsection (2) to the taxpayer; and

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(c) if the amount had not been included in the assessable income the deduction would not be allowable;

the deduction is not allowable.

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S 51AAA(1) amended by No 101 of 2004, No 46 of 1998 and No 121 of 1997.

51AAA(2)    

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The table lists provisions allowing deductions that are affected by subsection (1). Provisions of the Income Tax Assessment Act 1997 are identified in normal text. The other provisions, in bold , are provisions of the Income Tax Assessment Act 1936 .

Deduction provisions affected by net capital gains limit
Item	Provision	Description
1	Subdivision A of Division 3 of Part III	General
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2	section 8-1	General deductions
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3	Division 25	Some expenses you can deduct
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4	Division 30	Gifts or contributions
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5	Division 34	Non-compulsory uniforms
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6	Division 36	Tax losses of earlier income years
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7	Subdivision 40-F	Facilities to conserve or convey water
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8	Subdivision 40-F	Establishing grapevines
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9	Subdivision 40-G	Landcare operations
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10	Subdivision 40-G	Mains electricity supply
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11	Subdivision 40-G	Telephone lines
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12	Division 165	Income tax consequences of changing ownership or control of a company
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13	Subdivision 170-A	Transfer of tax losses within wholly-owned groups of companies
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14	Division 230	Financial arrangements

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S 51AAA(2) (table) amended by No 15 of 2009 , s 3 and Sch 1 item 32, by inserting table item 14, effective 26 March 2009.

S 51AAA(2) (table) substituted by No 77 of 2001.

S 51AAA(2) amended by No 121 of 1997, inserted by No 121 of 1997.

S 51AAA inserted by No 52 of 1986.

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Archived:

S 51 to 51AB repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 items 65 and 66, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive . Remade versions of subsections 51(8) and (9), which are repealed by the above item, are included in the Income Tax Assessment Act 1997 s 26-90 and 26-95 . S 51AC was repealed in 1989 and has also been archived.

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