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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 69.25 Election to use the 50/50 split method for meal entertainment

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 69.25

Election to use the 50/50 split method for meal entertainment

    You may elect to have acquisitions or importations treated, for the purposes of this Subdivision, as * non - deductible expenses because of paragraph   69 - 5(3A)(a), to the extent that the acquisitions or importations would be non - deductible expenses because of that paragraph if:

  (a)   an election were in force under section   37AA of the Fringe Benefits Tax Assessment Act 1986 (but no further election were in force under section   37CA of that Act); and

  (b)   section   51AEA of the * ITAA 1936 were to apply, because of that election, to expenses relating to the acquisitions or importations.

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