Private ruling: Deductions
Published: May 2012
Ruling period: Year ended 30 June 2011 | Year ended 30 June 2012 | Year ended 30 June 2013 | Year ended 30 June 2014
Date scheme commenced: 1 July 2010

Ruling: Q1: Are you entitled to deductions in relation to your honorary position? | A1: No.


Relevant legislative provisions: Income Tax Assessment Act 1997 Section 8-1

Reasons for decision: Summary: Section 8-1 of the Income Tax Assessment Act 1997 allows a deduction for all losses and outgoings to the extent to which they are incurred in gaining or producing assessable income, except where the outgoings are of a capital, private or domestic nature. You have appointed to an honorary position. You will not produce any assessable income from undertaking the position as it is purely honorary. Any expenses you incur in undertaking this position are not incurred in producing assessable income from the position. Therefore, you are not entitled to a deduction for any expenses you incur.

Please check this edited version to be sure that there are no details remaining that you think may allow you to be identified. If you have any concerns about this ruling you wish to discuss, you will find our contact details in the fact sheet. | Relevant facts: You have been appointed to an honorary position. | You will incur significant expenses, including travel, renting office space and employing an assistant.