INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
This section does not apply to the 1997-98 year of income or a later year of income.
Note:
Section 25-60 (Parliament election expenses) of the Income Tax Assessment Act 1997 deals with the deductibility of election expenses of candidates for the Parliament of the Commonwealth, State or Territory.
View history note
Hide history noteExpenditure incurred in the year of income by the taxpayer in being elected as a member, or in contesting an election for membership, of the Parliament, of the Parliament of a State, of the Legislative Assembly for the Australian Capital Territory or of the Legislative Assembly of the Northern Territory of Australia shall be an allowable deduction.
Subsection (2) does not apply to an amount received in the 1997-98 year of income or in a later year of income if the amount is received as recoupment as defined by section
20-25
of the
Income Tax Assessment Act 1997
.
Note:
Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.
When a deduction has been allowed or is allowable under subsection (1) in respect of any expenditure and that expenditure or any part of it is reimbursed to the taxpayer or paid for him by any other person or by any organization the assessable income of the taxpayer of the year in which the amount is so reimbursed or paid shall include that amount.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
