Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 86.60

General rule for deduction entitlements of personal services entities

    A * personal services entity cannot deduct under this Act an amount to the extent that it relates to gaining or producing an individual's * personal services income, unless:

  (a)   the individual could have deducted the amount under this Act if the circumstances giving rise to the entity's entitlement to deduct the amount had applied instead to the individual; or

Note:   In particular, Division   85 specifies limits on an individual's entitlements to deductions relating to the individual's personal services income.

  (b)   the entity receives the individual's * personal services income in the course of conducting a * personal services business.


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