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INCOME TAX ASSESSMENT ACT 1936 - SECT 82 Double deductions

INCOME TAX ASSESSMENT ACT 1936 - SECT 82

Double deductions

    Where the profit arising from the sale of any property is included in the assessable income of any person, or where the loss arising from the sale is an allowable deduction, and any expenditure incurred by the person in connexion with that property has been allowed or is allowable as a deduction under this Act, that expenditure shall not be deducted in ascertaining the amount of the profit or loss.

Subdivision   D -- Losses and outgoings incurred under certain tax avoidance schemes

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