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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 26 - Some amounts you cannot deduct, or cannot deduct in full    View history reference

Operative provisions  

SECTION 26-100  Expenditure attributable to water infrastructure improvement payments  

 View history reference

26-100(1)  

You cannot deduct under this Act *SRWUIP expenditure if the matching *SRWUIP payment is, or is reasonably expected to be, *non-assessable non-exempt income (whether for you or for another entity) under section 59-65.

26-100(2)  

SRWUIP expenditure, in respect of a *SRWUIP program, is expenditure that:


(a) you incur that satisfies an obligation under an *arrangement under the program; and


(b) is, or is reasonably expected to be, matched by a *SRWUIP payment in respect of the program.

26-100(3)  

However, treat the expenditure as if it had never been SRWUIP expenditure if it is no longer reasonable to expect that the expenditure will be matched by a *SRWUIP payment in respect of the program.


 



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