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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 28 - Car expenses  

Subdivision 28-A - Deductions for car expenses  

SECTION 28-12  Car expenses  

 View history reference ITAA 36

28-12(1)  

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If you owned or leased a *car, you can deduct for the car's expenses an amount or amounts worked out using one of 2 methods.

Note 1:

For particular types of cars taken on hire you cannot use one of the 2 methods: see section 28-165.

Note 2:

In certain circumstances the lessee of a luxury car is taken to be its owner (see subsection 242-15(2)).

Note 3:

In certain circumstances (for example, under a hire purchase agreement) the notional buyer of property is taken to be its owner (see subsection 240-20(2)).

28-12(2)  

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You must use one of the 2 methods unless an exception applies. If you can't use either of the methods, you can't deduct anything for the *car expenses.


 



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