Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 28 - Car expenses  

Subdivision 28-A - Deductions for car expenses  

SECTION 28-12   Car expenses  

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28-12(1)    

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If you owned or leased a *car, you can deduct for the car ' s expenses an amount or amounts worked out using one of 2 methods.

Note 1:

For particular types of cars taken on hire you cannot use one of the 2 methods: see section 28-165 .

Note 2:

In certain circumstances the lessee of a luxury car is taken to be its owner (see subsection 242-15(2) ).

Note 3:

In certain circumstances (for example, under a hire purchase agreement) the notional buyer of property is taken to be its owner (see subsection 240-20(2) ).

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History

S 28-12(1) amended by No 79 of 2010 , s 3 and Sch 3 item 11, by substituting " subsection 242-15(2) " for " subsection 42A-15(2) in Division 42A of Schedule 2E to the Income Tax Assessment Act 1936 " in note 2, effective 1 July 2010.

S 28-12(1) amended by No 72 of 2001 (as amended by No 57 of 2002).

S 28-12(1) Note 1 renumbered and Note 2 inserted by No 174 of 1997.

28-12(2)    

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You must use one of the 2 methods unless an exception applies. If you can ' t use either of the methods, you can ' t deduct anything for the *car expenses.

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History

S 28-12(2) amended by No 162 of 2015, s 3 and Sch 1 item 25, by substituting " either of the methods " for " any of the methods " , applicable in relation to the 2015-16 income year and later income years.

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History

S 28-12 amended by No 162 of 2015, s 3 and Sch 1 item 24, by substituting " 2 methods " for " 4 methods " (wherever occurring), applicable in relation to the 2015-16 income year and later income years.

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