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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 26-20  Assistance to students  

 View history reference ITAA 36

26-20(1)  

You cannot deduct under this Act:


(a) - (c) (Repealed by No 56 of 2010)


(ca) a student contribution amount within the meaning of the Higher Education Support Act 2003 paid to a higher education provider (within the meaning of that Act); or
 View history reference


(cb) a payment made to reduce a debt to the Commonwealth under Chapter 4 of that Act; or
 View history reference


(cc) a payment made to reduce a debt to the Commonwealth under Chapter 2AA of the Social Security Act 1991 or Part 2 of the Student Assistance Act 1973 ; or
 View history reference


(cd) a payment made to reduce a debt to the Commonwealth under Chapter 3 of the Trade Support Loans Act 2014 ; or
 View history reference


(ce) a payment made to reduce a liability to overseas debtors repayment levy under the Student Loans (Overseas Debtors Repayment Levy) Act 2015 ; or
 View history reference


(d) a payment made to reduce a debt to the Commonwealth, or to a participating corporation, under Chapter 2B of the Social Security Act 1991 or Part 4A of the Student Assistance Act 1973 .

[ CCH Note: S 26-20(1) will be amended by No 116 of 2018, s 3 and Sch 1 item 29, by inserting para (cba) after para (cb), effective 1 July 2019. Para (cba) will read:


(cba) a payment made to reduce a debt to the Commonwealth under Part 3A of the VET Student Loans Act 2016 ; or
]

Exception when you provide a fringe benefit

26-20(2)  

Subsection (1) does not stop you deducting expenditure you incur in * providing a * fringe benefit.


 



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