Div 32 inserted by No 121 of 1997.
SECTION 32-70 $30 is assessable for each meal provided to non-employee in an in-house dining facility
(a) you incur a loss or outgoing in respect of providing the meal; and
(b) because of item 1.2 of the table in section 32-30, section 32-5 does not stop you deducting the loss or outgoing under section 8-1 (which deals with general deductions); and
(c) the loss or outgoing is one that you can deduct under section 8-1 for the income year or some other income year.
If you do choose, you cannot rely on item 1.2 of the table in section 32-30 as a basis for deducting a loss or outgoing you incur in respect of providing a meal.
S 32-70 inserted by No 121 of 1997.