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INCOME TAX ASSESSMENT ACT 1997 - SECT 26.45 Recreational club expenses

INCOME TAX ASSESSMENT ACT 1997 - SECT 26.45

Recreational club expenses

  (1)   You cannot deduct under this Act a loss or outgoing to the extent you incur it to obtain or maintain:

  (a)   membership of a * recreational club; or

  (b)   rights to enjoy (otherwise than as a * member) facilities provided by a * recreational club for the use or benefit of its * members;

whether for yourself or someone else.

Meaning of recreational club

  (2)   A recreational club is a company that was established or is carried on mainly to provide facilities, for the use or benefit of its * members, for drinking, dining, * recreation or entertainment.

Exception when you provide a fringe benefit

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

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