INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision B - Development allowance  

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History

Subdiv B heading substituted by No 98 of 1992 and inserted by No 50 of 1976.

Former Subdivision B of Division 3 (``Concessional Deductions'') repealed by No 117 of 1975. Former Subdivision B of Division 3 previously amended by No 80 of 1975, No 126 and No 26 of 1974, No 216, No 164, No 52 and No 51 of 1973, No 85 of 1972 and No 93 of 1971.

SECTION 82AK  

82AK   PRIVATE USE OF PROPERTY BY EMPLOYEES, ETC, OF PRIVATE COMPANY  
Where property that was acquired or constructed, or taken on lease, by a taxpayer being a private company is used at any time for a private or domestic purpose by -

(a) an employee of the company;

(b) a director of the company;

(c) a member of the company; or

(d) a relative of a person referred to in paragraph (a), (b) or (c),

the property shall be deemed for the purposes of this Subdivision to have been used at that time by the company for a purpose other than the purpose of producing assessable income.

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