INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 2 - Income  

Subdivision A - Assessable income generally  

SECTION 26AAAC   MEALS PROVIDED TO CLIENTS ETC, IN IN-HOUSE DINING FACILITIES  

26AAAC(1A)   [No application from 1997/98 income year onwards]  

This section does not apply to a meal provided in the 1997-98 year of income or a later year of income.

Note:

Section 32-70 of the Income Tax Assessment Act 1997 is about when amounts are included in your assessable income for meals provided to persons in an in-house dining facility.

26AAAC(1)   [Amount included in assessable income]  

Where:

(a) the taxpayer incurs a loss or outgoing in a year of income in respect of the provision of entertainment, being a loss or outgoing in respect of the provision of a meal (not being a meal provided at a party, reception or other social function) on a working day to a person other than:

(i) in any case - an employee of the taxpayer; or

(ii) if the taxpayer is a company - an employee of the taxpayer or of a company that is related to the taxpayer;

in an in-house dining facility of the taxpayer;

(b) the loss or outgoing is deductible under section 51 ; and

(c) but for subparagraph 51AE(5)(f)(i) , the loss or outgoing would not be deductible under section 51 ,

the assessable income of the taxpayer of the year of income shall include, in respect of the meal, $30.

26AAAC(2)   [Interpretation]  

An expression used in this section and in section 51AE has the same meaning in this section as in that section.