(1) Section 86 - 60 does not stop a * personal services entity deducting an amount to the extent that it is an * entity maintenance deduction.
Note: See section 86 - 25 for how entity maintenance deductions are offset against a personal services entity's income.
(2) Each of these is an entity maintenance deduction :
(a) any fee or charge payable by the entity for opening, operating or closing an account with an * ADI;
(b) any deduction under section 25 - 5 (about tax - related expenses);
(c) any loss or outgoing incurred in relation to preparation or lodgment of any document the entity is required to lodge under the Corporations Act 2001 ;
(d) any fee or charge payable by the entity to an * Australian government agency for any licence, permission, approval, authorisation, registration or certification (however described) that is granted or given under an * Australian law.
(3) However, paragraph (2)(c) does not include any
payment that the entity makes to an * associate.