Div 26 heading substituted by No 121 of 1997.
SECTION 26-31 Travel related to use of residential premises as residential accommodation
(a) it is incurred in gaining or producing your assessable income from the use of *residential premises as residential accommodation; and
(b) it is not necessarily incurred in carrying on a *business for the purpose of gaining or producing your assessable income.
Exception - kind of entity
(a) a *corporate tax entity; or
(b) a *superannuation plan that is not a *self managed superannuation fund; or
(c) a *managed investment trust; or
(d) a public unit trust (within the meaning of section 102P of the Income Tax Assessment Act 1936); or
(e) a unit trust or partnership, if each *member of the trust or partnership is covered by a paragraph of this subsection at that time during the income year.
S 26-31 inserted by No 126 of 2017, s 3 and Sch 1 item 2, effective 1 January 2018 and applicable to a loss or outgoing incurred on or after 1 July 2017.