A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

INCOME TAX ASSESSMENT ACT 1997

CHAPTER 5 - ADMINISTRATION  

PART 5-30 - RECORD-KEEPING AND OTHER OBLIGATIONS  

Division 900 - Substantiation rules  

Subdivision 900-E - Written evidence  

Operative provisions

SECTION 900-125  Evidence of small expenses  

 ITAA 36

900-125(1)  

If your expense is small, and you have a small total of small expenses, you can make a record of the expenses instead of getting a document from the supplier.

900-125(2)  

Each expense must be $10 or less, and the total of all your expenses that:


(a) are each $10 or less; and


(b) you incurred in the income year and wish to deduct; and


(c) you must get written evidence for under this Division;

must be $200 or less. These limits can be increased from time to time by regulations made under section 909-1 .

900-125(3)  

 View history reference
If the expense is not the decline in value of a *depreciating asset, you must get a document with the same information as required by section 900-115 , except that you may create the document and record all the details yourself. You must do so as soon as possible after incurring the expense.

900-125(4)  

 View history reference
If the expense is the decline in value of a *depreciating asset, you must, as soon as possible after the last day of the income year, record in a document the following:


(a) the nature of the property;


(b) the amount of the decline in value;
 View history reference


(c) who made the record;


(d) the day the record is made.

900-125(5)  

A record must be in English.

 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page