Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 32.5

                   To the extent that you incur a loss or outgoing in respect of providing * entertainment, you cannot deduct it under section 8-1. However, there are exceptions, which are set out in
Subdivision 32-B.

Note 1:       Under section 8-1 you can deduct a loss or outgoing that you incur for the purpose of producing assessable income.

Note 2:       If you have used your property in providing entertainment, you may not be able to deduct an amount for the property: see section 32-15.

Note 3:       Section 32-75 deals with arrangements to avoid the operation of this section.